If a Perpetual Inventory System Is Used Instead of a Periodic

question 68

Multiple Choice

If a perpetual inventory system is used instead of a periodic system,identify the accounts that the Merchandise Inventory account replaces.

• A) Purchases,Sales,Freight In
• B) Purchases,Purchase Returns and Allowances,Freight In
• C) Purchases,Cost of Goods Sold
• D) Purchases,Accounts Receivable,Freight In

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Definitions:

Implementation

The process of putting a decision or plan into effect; execution.