addition inventory costing methods

Accounting
Tutor: None Selected Time limit: 1 Day

 (3) risks and three (3) benefits of using the perpetual inventory management system. Discuss the main types of inventory errors that could occur using the perpetual inventory system, and the major impact to the balance sheet and income statement

Aug 11th, 2014

benefits:

allows for accurate restocking

uncovers shrinkage and theft

better for small businesses that can sufficiently get by with just a cash register and simple accounting procedures


risks:

increased accuracy issues

more likely to have technology problems with this

its not an ideal system if you sell services rather than products

Aug 11th, 2014

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Aug 11th, 2014
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Aug 11th, 2014
Dec 7th, 2016
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