When a Company Uses the Perpetual Inventory Method, Which of the Following

question 14

Multiple Choice

When a company uses the perpetual inventory method, which of the following would be the entry to adjust inventory to lower- of- cost- and- net- realisable- value?

• A)Debit Purchases and credit Inventory
• B)Debit Cost of sales and credit Inventory
• C)Debit Inventory and credit Cost of sales
• D)Debit Inventory and credit Purchases

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Definitions:

Rh Type

A classification of human blood based on the presence or absence of the RhD antigen on the surface of red blood cells, important in determining blood compatibility.

Erythroblastosis Fetalis

A serious anemia that develops in a fetus with Rh-positive blood as a result of antibodies in an Rh-negative mother’s body.

Embolus

A blood clot, air bubble, piece of fatty deposit, or other object that has been carried in the bloodstream to lodge in a vessel and cause an embolism.

Coronary Artery

The arteries that supply blood to the heart muscle itself.