 Related Questions Latest Answer : Perpetual updates the inventory immediately Periodic inventory updates on monthly basis. ... Latest Answer : The direction and control of activities with the purpose of getting the right inventory in the right place at the right time in the right quantity in the right form at the right cost. ... If i have paid for something why cant i expense the entire amount on the income statement?why do we need to make an adjustment to the insurance policy at the end of the year? wouldn't it have easier to record the entire balance as an expense in November when the policy was ?purchased?why do I need to take an inventory count of my supplies at the end of the year?If I receive the Hydro bill on August 5th, why don't we record the transaction for the next fiscal period rather then include Read Answers (1) | Asked by : Nick Appropriation is an estimate of expenditure to be incurred. It serves as a benchmark upon which the actions and performance of a governmental unit are measured. It helps monitor and set control to budgetary View Question | Asked by : Idi Alali Using Periodic inventory system: debit creditMerchandise inventory 7/1/05 32,000Sales 380,000Sales returns 12,000purchases 240,000 purchase discounts 6,000purchase returns 10,000freight-in View Question | Asked by : stayhomemom what is miscellaneous expenses & why they carry forward every year Latest Answer : Miscellaneous expenses are those expenses which are very minor/small in nature.Any expense which cannot be debited to any expense account is debited to misc exp a/c. Examples: donations given to someone (if they are too small to call donation, else debited ... What are the documents require for the payment?What are the expenses are made in inventory stock? Latest Answer : In making payment for buying stock/goods we need invoice/bill and lorry receipt or bill of lading. If the goods are brought via air transport then airway bill or whatever name it is called by.And then when you make a payment you need to take receipt. ... In which inventory pricing procedure the oldest costs incurred rarely have an effect on the end inventory valuation? When inventory prices are declining the, FIFO method will generally yield a gross profit that is:A Less than the LIFO methodB Equal to the average cost methodC The same as that from any other costing methodD Latest Answer : Answer is A
Gross profit is less than LIFO method. ...
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