Asked by alexandrra jaranilla on Jun 05, 2024
Verified
Individual inventory items are tracked in the:
A) accounts receivable ledger.
B) purchases journal
C) accounts payable ledger.
D) inventory ledger.
Inventory Ledger
A detailed record maintaining the quantity and value of a company's inventory over time.
- Interpret the role of inventory ledgers and journals in tracking inventory transactions and balances.
Verified Answer
NV
Nency ViraniJun 11, 2024
Final Answer :
D
Explanation :
The inventory ledger is specifically used to track individual inventory items, including their quantities and costs, making it the correct choice for this purpose.
Learning Objectives
- Interpret the role of inventory ledgers and journals in tracking inventory transactions and balances.