If the Inventory Shows an Actual Count of $350 and the Perpetual

question 92

Multiple Choice

If the inventory shows an actual count of $350 and the perpetual inventory according to the records shows $339,the adjusting entry for the $11 would:

• A)debit Cost of Goods Sold;debit Purchase Returns and Allowances.
• B)debit Cost of Goods Sold;credit Inventory.
• C)debit Inventory;credit Cost of Goods Sold.
• D)debit Inventory;credit Purchase Returns and Allowances.

---

Definitions:

Formal Operational

The fourth and final stage of Jean Piaget's theory of cognitive development, occurring from around age 12 and beyond, marked by the ability to think abstractly, logically, and systematically.

Concrete Operational

A stage in Piaget's theory of cognitive development where children gain the ability to think logically about concrete events.

Language

A form of communication—whether spoken, written, or signed—that is based on a system of symbols.

Object Permanence

The understanding that objects continue to exist even when they cannot be seen, heard, or touched, a concept important in cognitive development of infants.