apter 6 assignments - for mark X C Solved. Aacher wishes to ex ces/38929/assignments/5127045 Your answer is incorrect. dentify all of the following statements that are correct with regards to inventory systems. must be completed. O a. The key difference between a perpetual inventory system and a periodic inventory system is under a periodic inventory system, inventory counts buying the goods. b. Inventory items that are in transit, with terms FOB shipping point, are included in the balance of inventory in the inventory system of the company c The accounting records, under a perpetual inventory system, are continuously updated with changes in the inventory volumes and values. d. The main reasons a physical inventory may not equal the inventory balance under a perpetual inventory system are shrinkage and/or theft. O e. Inventory items that are in transit, with terms FOB destination, should be included the balance of inventory in the inventory system of the compan buying the goods. f. A physical count of inventory may only be necessary under the perpetual inventory system if the company is concerned about theft. O g. A company that is selling consigned goods in its stores should not include the value of consigned inventory in its physical inventory count. W Textbook and Media Attempts: 1 of 3 used Sub ve for Later Last saved 19 hours ago d work will be auto-submitted on the due date. & Prev Alennent sent to Gradebook Your grade is being recorded Thu May 28 2020.5 45329 PM (America Regina-06.00 wind apter 6 assignments - for mark X C Solved. Aacher wishes to ex ces/38929/assignments/5127045 Your answer is incorrect. dentify all of the following statements that are correct with regards to inventory systems. must be completed. O a. The key difference between a perpetual inventory system and a periodic inventory system is under a periodic inventory system, inventory counts buying the goods. b. Inventory items that are in transit, with terms FOB shipping point, are included in the balance of inventory in the inventory system of the company c The accounting records, under a perpetual inventory system, are continuously updated with changes in the inventory volumes and values. d. The main reasons a physical inventory may not equal the inventory balance under a perpetual inventory system are shrinkage and/or theft. O e. Inventory items that are in transit, with terms FOB destination, should be included the balance of inventory in the inventory system of the compan buying the goods. f. A physical count of inventory may only be necessary under the perpetual inventory system if the company is concerned about theft. O g. A company that is selling consigned goods in its stores should not include the value of consigned inventory in its physical inventory count. W Textbook and Media Attempts: 1 of 3 used Sub ve for Later Last saved 19 hours ago d work will be auto-submitted on the due date. & Prev Alennent sent to Gradebook Your grade is being recorded Thu May 28 2020.5 45329 PM (America Regina-06.00 wind
