A Retailer's Physical Count of Inventory Was Higher Than That

question 38

Multiple Choice

A retailer's physical count of inventory was higher than that shown by the perpetual records. Which of the following could explain the difference?

• A)Inventory items had been counted but the tags placed on the items had not been taken off and added to the inventory accumulation sheets.
• B)Credit memos for several items returned by customers had not been recorded.
• C)No journal entry had been made on the retailer's books for several items returned to its suppliers.
• D)An item purchased FOB shipping point had not arrived at the date of the inventory count and had not been reflected in the perpetual records.

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Definitions:

REM Sleep

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The process of managing or remedying psychological or physiological conditions that impact an individual's mental health or behavioral patterns.