ACC 304 Course Great Wisdom / tutorialrank.com ACC 304 Course Great Wisdom / tutorialrank.com | Page 64

31.

When using a perpetual inventory system,

a. no Purchases account is used.

b. a Cost of Goods Sold account is used.
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ACC 304 Week 2 Chapter 9 Homework
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ACC 304 Week 2 Chapter 9 Homework
1)
Floyd Corporation has the following four items in its
ending inventory. Determine the final lower-of-cost-or-market
inventory value for each item.