A dealer that sells televisions might keep a record of its inventory of each type of television, something like the following:

This is called a perpetual inventory record. “Receipts” are [increases /
decreases] in inventory, and “Shipments to Customers” are [increases /
decreases] in inventory.

Transcribed Image Text:

Item: Television #602, Cost $500 each Date Receipts Shipments to Customers On Hand Quantity Cost Quantity Cost Quantity Cost May 1 4 2,000 6 1 500 3 1,500 10 10 5,000 13 6,500 13 6 3,000 7 3,500 31 2 1,000 5 2,500 Totals 10 5,000 9 4,500 5 2,500