Account used to record merchandise on hand under a perpetual inventory system.
a. \quad Freight
b. \quad Delivery Expense
c. \quad Merchandise Inventory
d. \quad Sales discount
e. \quad Purchases Returns and Allowances
f. \quad Debit memo
g. \quad Purchase discount
h. \quad Trade discount

Perpetual Inventory System

An inventory management accounting method that instantly documents transactions of buying or selling inventory via computerized point-of-sale systems and enterprise asset management applications.

Merchandise Inventory

The total cost of all goods that are available for sale during a certain period, including purchases and adjustments for returns or damages.

Inventory On Hand

Refers to the total amount of items or products available in stock by a business at any given time.