Kansas city uses the purchases method for recording its inventory of supplies in the General Fund. Rather

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Kansas city uses the purchases method for recording its inventory of supplies in the General Fund. Rather than using a perpetual inventory system, inventories are updated at year-end based

on a physical count.Physical inventories were $30,000 and $70,000 at December 31, 2020 and 2021, respectively. Purchase of inventory during 2021 was $140,000. The amount of expenditure

related to inventory for year 2021 will be:

Posted Date: Jun 03, 2024 09:14 AM

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Kansas city uses the purchases method for recording its inventory of supplies in the General Fund. Rather

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