The Inventory System Whereby the Merchandise Inventory Account Balance Is

question 112

Multiple Choice

The inventory system whereby the merchandise inventory account balance is merely a record of the most recent physical inventory count is called the:

• A)periodic system.
• B)perpetual system.
• C)LIFO system.
• D)FIFO system.

---

Definitions:

Delete Button

A user interface element, typically represented by an icon, that allows users to remove data, files, or entries from an application or system.

Series Of Steps

A sequence of actions or operations that follow an order to achieve a specific goal or complete a process.

Expand All Button

A control in software that allows users to open and view all collapsible items or sections within a document or interface with a single click.

Run Button

A button in software applications that starts or executes a defined process or program.