Why is it important to periodically take a physical inventory if the perpetual system is used?
Question:
Why is it important to periodically take a physical inventory if the perpetual system is used?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 84% (13 reviews)
A physical count of inventory should be taken near yearend to ve...View the full answer
Answered By
Saud Ur Rehman
Evaluating manufacturing processes by designing and conducting research programs; applying knowledge of product design, fabrication, assembly, tooling, and materials; conferring with equipment vendors; soliciting observations from operators. Developing manufacturing processes by studying product requirements; researching, designing, modifying, and testing manufacturing methods and equipment; conferring with equipment vendors. Keeping equipment operational by coordinating maintenance and repair services; following manufacturer's instructions and established procedures; requesting special service.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Why is it important to periodically take a physical inventory when using a perpetual inventory system?
-
Why is it important to scale up system bus and device speeds as the CPU speed increases?
-
Why is it important to take this course in management?
-
JOB SHEETS: Job cost sheets for each of the ten jobs appear on this sheet. Additionally, a combo box for each job (ten combo boxes total) appears for each job. Further, on this sheet, a check box...
-
For each of the following uncertain quantities, discuss whether it is reasonable to assume that the probability distribution of the quantity is normal. If the answer isn't obvious, discuss how you...
-
Research the cost of each model (includes taxes and title costs). Also, obtain an estimate of the kilometers per litre (kpL) fuel efficiency of each model.
-
(Correlation coefficient of two negatively linearly correlated stocks) Chicken Feed and Poultry Delight are two stocks traded on the Farmers Stock Exchange. A statistician has determined that the...
-
Matt Domby is the owner of Dombys Boot Store. Matt currently is formulating his budget for the coming year and provides you with the following information about expected quarterly sales. Matt...
-
A semi-sphere tank of radius 7 m is full of water. How much work is needed to pump all of the water out through the top of the tank? (Use the fact that the density of water is 1000 kg/m3 and g9.8.)...
-
Davidson, DDS, purchased new furniture for its store on May 1, 2018. The furniture is expected to have a 10-year life and no residual value. The following expenditures were associated with the...
-
Before inventory purchases are recorded, the receiving report should be reconciled to what documents? Discuss.
-
Because of imperfections, an item of merchandise cannot be sold at its normal selling price. How should this item be valued for financial statement purposes?
-
How do the DNA polymerases of eukaryotes differ from those of prokaryotes?
-
3. A liquid-process feed stream contains 99 mol-% of species 1 and 1 mol-% of impurity, species 2. The impurity level is to be reduced to 0.1 mol-% by contacting the feed stream with a stream of pure...
-
Provide description of the components required to assemble an office chair, which is shown in the image below (no quantity, no number, no supplier, just description) CoursHeroTranscribedText (1)X1...
-
rses/_982 1/outline/assessment/_9744469_1/overview/attempt/_23416646_1?courseld= Question 8 2 Points There are 7 yellow marbles, 8 red marbles, and 13 blue marbles in a bag. If you reach into the bag...
-
15 rt 15 of 15 5 nts Required information. [The following information applies to the questions displayed below.) Cardinal Company is considering a five-year project that would require a $2,810,000...
-
8. The Valentine's Day Company has two processing departments, Cooking and Packaging. Ingredients are placed into production at the beginning of the process in Cooking, where they are formed into...
-
Match List I (Type of Governor) with List II (Characteristics) and select the correct answer using the codes given below the lists: List I A. Isochronous governor B. Sensitive governor C. Hunting...
-
When a company has a contract involving multiple performance obligations, how must the company recognize revenue?
-
Compute the indicated probabilities in Problems 47 and 48 by referring to the following probability tree: (A) P(N R) (B) P(S) .3 .7 M N- .4 .6 .2 .8 R S R S
-
Where are gains and losses related to cash flow hedges involving anticipated transactions reported?
-
Where are gains and losses related to cash flow hedges involving anticipated transactions reported?
-
What are hybrid securities? Give an example of a hybrid security.
-
The standard direct material cost per unit for Willis Group was $ 1 4 0 ( = $ 3 5 per gallon 4 gallons per unit ) . During the period, actual direct materials costs amounted to $ 1 , 8 5 5 , 5 4 0 ,...
-
Exercise 1 0 - 9 ( Algo ) Straight - Line: Amortization of bond premium LO P 3 Quatro Company issues bonds dated January 1 , 2 0 2 1 , with a par value of $ 7 2 0 , 0 0 0 . The bonds' annual contract...
-
if the provision for bad debts decrease from 1 5 0 0 to 1 2 0 0 , then the profit in the statement of comprehensive income will increase by 3 0 0
Study smarter with the SolutionInn App