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  3. select which inventory system is indicated by each

Select which inventory system is indicated by each sentence. ...

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Question

Accounting

Select which inventory system is indicated by each sentence.

- a. b.

This system can be costly and time consuming if not computerized.

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- a. b.

Average cost is rarely used with this system.

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- a. b.

Under this system only revenue is recorded when sales are made. No reduction to inventory is made at the time of sale.

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- a. b.

When using this system a physical inventory is necessary to determine Cost of Goods Sold.

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Answer
a.

Perpetual
b.

Periodic

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