In a Retail Department Store with an Efficient Perpetual Inventory

question 9

True/False

In a retail department store with an efficient perpetual inventory system,the quantities of goods actually on hand are probably somewhat more than the quantities indicated in the accounting records.

---

Definitions:

Bath Sponges

Natural or synthetic sponges used for cleansing the body; natural ones are harvested from the ocean and belong to a simple, multicellular organism group.

Silica

A hard, unreactive, colorless compound that occurs as the mineral quartz and as a principal constituent of sandstone and other rocks.

Calcium Carbonate

A chemical compound used as a dietary supplement or antacid; it's also the main component of limestone.

Spongin

A fibrous protein that makes up the skeleton of many sponges.