Which of the Following Is NOT Recorded in a Modern

question 75

Multiple Choice

Which of the following is NOT recorded in a modern perpetual inventory system?

• A) units purchased and cost amounts
• B) units sold and sales and cost amounts
• C) timeliness of vendor deliveries
• D) the quantity of merchandise inventory on hand and its cost

---

Definitions:

IFRS

International Financial Reporting Standards, which are a set of accounting standards developed by the International Accounting Standards Board (IASB) for global use.

Lower Of Cost Or Market

A method that values inventory at the lower of its historical cost or its current market price.

Price Index

A Price Index measures the average change in prices over time for a basket of goods and services, used to assess inflation or deflation in an economy.