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natka813 [3]
3 years ago
14

If a physical count of inventory indicates that the Merchandise Inventory account is​ overstated, an adjusting entry is required

to record the difference. Assume a perpetual inventory system is used.
True or False?
Business
1 answer:
ikadub [295]3 years ago
4 0

Answer:

The correct answer is True.

Explanation:

Once you count all the products in the inventory once a year, you may have decided to count some products more frequently, perhaps because they are more valuable or because they fluctuate very quickly and form a large part of the business. To this end, you can assign special count periods to those items. For more information, see Perform the cyclic count.

If it is necessary to adjust the recorded inventory quantities, for counting or other reasons, you can use a product journal to change the inventory accounting entries without recording business transactions. Alternatively, you can adjust a single item on the item card.

If you need to change the attributes of the product accounting entries, you can use the product reclassification journal. Typical attributes to reclassify include dimensions and campaign codes, although it also performs "system transfers" by reclassifying location and warehouse codes. Special steps apply when you want to reclassify serial or lot numbers, and their expiration dates.

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The correct answer is letter "B": False.

Explanation:

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Nady [450]

Answer:

core competency

Explanation:

Based on the information provided within the question in regards to the situation at hand it can be said that the iPad was a core competency for Apple. This term refers to the use of a company's resources and skills to create something in order to set it apart and give the company a competitive advantage in a market. Which is exactly what the iPad did for Apple.

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7 0
3 years ago
. For a certain item, the cost-minimizing order quantity obtained with the basic EOQ model is 200 units, and the total annual in
Zielflug [23.3K]

Answer:

Inventory cost will be $3

So option (b) is correct option

Explanation:

We have given that carrying and setup cost is $600

So carrying and setup cost = $600

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