Which of the Following Is a Potential Journal Entry Required $\mathrm { Cr }$

question 65

Multiple Choice

Which of the following is a potential journal entry required after the inventory count under the periodic inventory system?

• A) Dr Cost of goods sold
• \(\mathrm { Cr }\) Inventory
• B) Dr Cost of goods sold
• \(\mathrm { Cr }\) Inventory
• Cr Purchases
• C) Dr Inventory
• \(\mathrm { Cr }\) Accounts Payable
• D) Dr Cost of goods sold
• \(\mathrm { Cr }\) Inventory shrinkage or inventory gain

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Definitions:

C2B

Consumer-to-Business, a business model where consumers create value or products that businesses purchase.

B2B

Business-to-Business, a model that involves transactions between two firms rather than between a firm and individual consumers.

Ordering Cost

The expenses incurred in placing and receiving orders for materials or products, including paperwork, communication, and transportation costs.

Idle Workers

Employees who are not actively engaged in production or work due to lacking assignments or efficiency breakdowns.