The Use of Computers Has Been a Breakthrough for the Perpetual

question 61

Multiple Choice

The use of computers has been a breakthrough for the perpetual inventory system. Many retail businesses use optical-scan cash registers to read ____________. The scanners record the sale and, at the same time, update the inventory records with the cost of the sale.

• A) price lists
• B) barcodes
• C) cash register tapes
• D) the goods

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Definitions:

Retail Business

A business entity that sells goods or services directly to consumers.

Service Business

A business that provides intangible products or services to customers.

Gross Profit

The difference between sales and the cost of goods sold, representing the profit from buying and selling goods before other expenses are taken out.

Cost of Merchandise Sold

The total expense incurred by a company to buy or manufacture the goods sold during a period.