Time remaining:
addition inventory costing methods

Accounting
Tutor: None Selected Time limit: 0 Hours

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

Studypool's Notebank makes it easy to buy and sell old notes, study guides, reviews, etc.
Click to visit
The Notebank
...
Aug 11th, 2014
...
Aug 11th, 2014
Dec 3rd, 2016
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer