Asked by TANIE ETIENNE on Jul 24, 2024
Verified
Because many companies use computerized accounting systems, periodic inventory is widely used.
Periodic Inventory
An inventory system where stock levels are checked and updated at regular, specified intervals.
Computerized Accounting Systems
Software applications designed to manage and automate financial transactions and records for businesses.
- Absorb the mechanics and significance of the perpetual inventory framework, taking into account the treatment of returns and the assessment of the cost of goods sold.
Verified Answer
HP
Hetal PanchalJul 27, 2024
Final Answer :
False
Explanation :
Most companies now prefer perpetual inventory systems due to advancements in computerized accounting systems, which allow for real-time tracking of inventory levels and transactions.
Learning Objectives
- Absorb the mechanics and significance of the perpetual inventory framework, taking into account the treatment of returns and the assessment of the cost of goods sold.
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