1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
olga2289 [7]
3 years ago
13

Which of the following is a true statement about inventory systems?A)Periodic inventory systems require more detailed inventory

records.B)Perpetual inventory systems require more detailed inventory records.C)A periodic system requires cost of goods sold be determined after each sale.D)A perpetual system determines cost of goods sold only at the end of the accounting period.
Business
1 answer:
balu736 [363]3 years ago
7 0

Answer:

B)Perpetual inventory systems require more detailed inventory records.

Explanation:

Under the <em><u>Perpetual inventory system</u></em>, every time a good is sold the cost of goods sold (COGS) needs to be determined. That is the reason the details are so important.

Many times it varies because different units in inventory were purchased at different prices and times. <em>Inflation </em>might be a factor the prices changes too.

However, in the <u><em>Periodic inventory system</em></u>, (COGS) is determined at the end of the accounting period, so the person in charge of keeping the records usually checks the <em>Inventory</em> account at the end of the year to know COGS.

You might be interested in
Scott defines "minority owned" in his study of businesses in Northeastern City as being those businesses that are currently owne
Sphinxa [80]

Answer:

conceptualized

Explanation:

Based on the information provided within the question it can be said that in this scenario Scott has conceptualized the concept of "minority owned". This term refers to when an individual creates an abstract but very simplified view of something. Which in this case he gave the term "minority owned" a simplified definition of being only owned by women or African Americans, when there can be many other minorities in a certain area.

4 0
2 years ago
The model of technological choice presented in unit 2 of the economy suggests that the main reason the industrial revolution fir
Westkost [7]

the main reason the industrial revolution first occurred in Britain was that in Britain the price of coal was low relative to labor. Thus, making everyone want to own and make products using the steam engine which ultimately created the first industrial revolution.

The Industrial Revolution, which took place between roughly 1760 and between 1820 and 1840, was the adoption of new manufacturing techniques in Great Britain, continental Europe, and the United States. This transition encompassed the switch from manual to mechanical production methods, the invention of new ways of producing chemicals and the iron, the expansion of steam and water power, the creation of machine tools, and the growth of the mechanized factory system.

#SPJ4

6 0
1 year ago
Wheeler’s Bike Company manufactures custom racing bicycles. The company uses a job order cost system to determine the cost of ea
Westkost [7]

Answer:

See answers below

Explanation:

1 The predetermined overhead rate

= Cost of manufacturing overhead / Cost driver.

Where cost driver

= labor cost / labor rate

= $240,192 / $12.51

= 19,200 hours

Expected overhead

= depreciation + supervisor + supplies + property tax

= 56,500 + 140,000 + 46,400 + 27,750

Total overhead = 270,650

Overhead rate = 270,650 / 19,200

= 14.10 per hour

2. The amount t of applied overhead for of 18,500 actual hours were worked on

= 18,500 hours × $14.10

= $260,850

7 0
2 years ago
True or False: The parts of the cells called, cellular respiration, glucose and oxygen combine to make carbon dioxide and water
Cloud [144]

Answer:

Ture

Explanation:

3 0
2 years ago
Read 2 more answers
Keswick Supply Company wants to set up a division that provides copy and fax services to businesses. Customers will be given 20
Softa [21]

Answer:

Incremental cash flow= $1,369.863~ $1,370

Explanation:

In accrual accounting, accounts receivable gives a measure of revenue that a business has earned.

Given the annual revenue as $25,000. To get the daily revenue

Daily revenue= Annual revenue/ 365

Daily revenue= 25,000/365

Daily revenue= $68.493

Customers are expected to pay within 20 days, so for every 20 days

Incremental cash flow= 20 days* 68.493

Incremental cash flow= $1,369.863~ $1,370

3 0
3 years ago
Other questions:
  • Which of the following is most necessary for specialization among producers to take place? A. Free trade B. Competition C. Scarc
    12·2 answers
  • Would you expect holding cost to go down with increases in maximum capacity?
    5·1 answer
  • There would be other changes, too. The "cola wars" were escalating [in the 50s and 60s], and there was a new, all powerful weapo
    12·1 answer
  • Abner tells a representative of Brass &amp; Woodwind Musical Instruments, Inc., that he will pay for Claudia’s trumpet if she do
    6·2 answers
  • Book Co. has 1.4 million shares of common equity with a par​ (book) value of $ 1.00​, retained earnings of $ 28.1 ​million, and
    10·1 answer
  • What is a brand promise?
    15·1 answer
  • During the maturity stage of the product life cycle, the: a.number of new firms producing the current product increases. b.produ
    6·2 answers
  • A marketing strategy that involves a firm using different marketing mix activities to help consumers perceive the product as bei
    6·1 answer
  • Who is the president's chief adviser on intelligence matters across the executive branch?
    14·1 answer
  • Look at the sales prices change that is being suggested. In particular, Winetki talks about one of the product's prices as doubl
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!