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File: Inventory Systems
Accounting Notes Inventory Systems, Costing Methods Inventory Systems: Periodic - does not keep a continuous record of inventory on hand - physical inventory is required at least once a year ...

icon picture PDF Filetype PDF | Posted on 07 Feb 2023 | 2 years ago

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...Accounting notes inventory systems costing methods periodic does not keep a continuous record of on hand physical is required at least once year perpetual keeps an annual still journal entries for purchases and sales system credit accounts payable to sale merchandise receivable cost goods sold no entry end period transfer beg inv bal cogs page student learning assistance center san antonio college determining the beginning balance available ending specific unit method based particular units weighted average purchased held during fifo by which first costs into are out consists most recent lifo last earliest made principals concepts consistency principle business should use same procedures from disclosure financial statements must report enough information outsiders make knowledgeable decisions about materiality concept perform strictly proper only items transactions that significant conservatism favorable figures in lower or market requires asset be reported whichever its historical cur...
								

							

						
	
												
				
					
					
					
			
					
				
				
		
	

	
		





	

	
				

						

						
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										Category:  Uncategorized / Uncategorized 
										
Posted on: 07 Feb 2023 | 2 years ago
										
										
Tag:
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																								inventory,
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Filetype: PDF
										
File size: 0.38 MB
										
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										Wan learn
											

												Wan learn