Addison, Inc -Under the _____ Inventory Method, Accounting Records Maintain a Continuously

question 89

Multiple Choice

Addison, Inc. uses a perpetual inventory system. The following is information about one inventory item for the month of September:
$\begin{array} { r l l } \text { Sept. } 1 & \text { Inventory } & 20 \text { units at } \$ 20 \\ 4 & \text { Sale } & 10 \text { units } \\ 10 & \text { Purchase } & 30 \text { units at } \$ 25 \\ 17 & \text { Sale } & 20 \text { units } \\ 30 & \text { Purchase } & 10 \text { units at } \$ 30 \end{array}$
-Under the _____ inventory method, accounting records maintain a continuously updated inventory value.

• A) retail
• B) periodic
• C) physical
• D) perpetual

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Definitions:

Forged Journal Cross

A forged journal cross is a component in the driveline of a vehicle, made through forging to achieve strength and durability, used to connect different shafts within the drive system.

Universal Joint

An assembly consisting of a trunnion cross and bearings that connects a pair of yokes for purposes of transmitting drive torque on an angled plane.

Trunnions

Trunnions are cylindrical protrusions used as a pivot or mounting point, commonly found in cannons, tanks, and heavy machinery for rotation or support.

Metal Fatigue

The phenomenon where metal experiences weakening or failure after repeated stress or strain over time.