When the Perpetual Inventory System Is Used,where Can the Best

question 9

Multiple Choice

When the perpetual inventory system is used,where can the best estimate of the amount of inventory on hand be found?

• A)On the previous period's balance sheet
• B)In the Inventory account in the general ledger
• C)By applying the gross margin method
• D)By subtracting sales for the period from the beginning Inventory account balance

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