Dole Company Uses the Periodic Inventory System

question 22

Multiple Choice

Dole Company uses the periodic inventory system.At the end of the accounting period,ending inventory is $10,000 and beginning inventory is $5,000.Purchases for the period are $99,000.How many journal entries are necessary at the end of the accounting period?

• A)none
• B)one
• C)two
• D)three

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Definitions:

Account Management Policy Grid

A strategic tool used in sales and marketing to categorize and manage customer accounts based on their potential and the business's objectives.

Level of Opportunity

The scope or chance that exists for new ventures or improvements within a market, organization, or environment, often impacting strategic decisions.

Competitive Sales Position

A company's standing or rank in the market compared to its competitors, often in terms of sales volume or market share.

Product Sales Organization

A structured setup in a company dedicated to selling products, which includes roles, responsibilities, and processes aimed at achieving sales targets.