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Massive Retaliation (1954)
John Foster Dulles
We want, for ourselves and the other free nations, a maximum deterrent at a bearable cost. . . . Local defense will always be important. But there is no local defense whichalone will contain the mighty land power of the Communist world. Local defenses must be reinforced by the further deterrent of massive retaliatory power. A potential aggressor mustknow that he cannot always prescribe battle conditions that suit him. . . .
The way to deter aggression is for the free community to be willing and able to respond vigorously at places and with means of its own choosing. . . .
If we can deter such aggression as would mean general war, and that is our confident resolve, then we can let time and fundamentals work for us.
-The position of the United States in the world after World War II was
Merchandise Purchased
The total cost of goods bought for resale during a specific accounting period.
Purchases Discounts
A reduction in the price of goods that a buyer can take advantage of if they pay by a certain date.
Periodic Inventory System
An inventory method where updates to inventory levels are made at specified periods, typically at the end of a financial year, rather than continuously.
Periodic Inventory System
An inventory accounting method where inventory levels and cost of goods sold are calculated at set intervals, such as monthly or yearly.
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