which-of-the-following-is-an-advantage-of-the-periodic-inventory-system-a-frequent-physical-inventor

Question

Which of the following is an advantage of the periodic inventory system?
A. frequent physical inventory counts
B. cost prohibitive
C. time consuming
D. real-time information for managers

Puneet Prajapati · Accepted Answer

So we are going to understand the meaning off. Invent new system. Okay, so by back, we&#x27;ve been in this thing. It&#x27;s a little respect, so So Okay, so it is the system. Which in neighbours An entity record what she is. Okay. Sales transactions, but she is in sale transactions. No kidding? Given the financial. Okay, so an inmate base system enables an entity. Okay? It enables an entity who regard, but she&#x27;s I see. Okay, transaction opening within the financial yet. Okay, So there are many elections which are occurred in an entity. Didn&#x27;t give an inch area. So anyway, every system allows to record those convictions. Okay. However, there is ah, system. Or we can say that April systems. Okay, beautiful. The Arctic in when do system. So as its name suggests, it allows table Inspection Act desired indo us. So as the name off in when two systems suggests pretty already. Okay, So it allows an entity who conduct soup able inspection. Okay, So people inspection are designed to know what is the model of desired influence. It would be it could be Legally you contracted overtime writing okay for a future girlfriends monthly. So these are there Do that sort Designing parents with data on so however daily will be, you know, very, very time consuming. Okay, so daily bigly monthly are fairly Okay, so on. Okay, so it it allows the entity to conduct some people inspection at the increments. Okay, so that matches with So I would put in solution matches with choice E. Okay, so it is the correct answer. Joyce A is the correct answer. However, you can write for everything so far. What a difference. So choice is the correct answer.

Puneet Prajapati · Answer

okay. Sylvia will understand the night, boss. First of all, he will understand. Like to system. What is the meaning of it? System forward. By that, we will understand how many dates of energy system we have. Okay, so it refers to the system which guards seeing, and but she&#x27;s off words. You mean directly true. Okay, so it is the system. Okay? It is the system which the car sailing, but Jay&#x27;s upwards immigrated through computers. So this is the most and even so we talked about. Look, this is the most important element of invented a system. Deputation. Okay. However, there is a system. There is a system bitch record sailing, but a chase off the course through computerized sophisticated computer race. Okay, however, almost in now, what is in a green wimpy system? We have computers off place of testicular philosophically called every transaction. Okay. Veteran to sail a purchase of goods, but not Jellystone. We have recently we have perpetual inventory system that this designed to record these healing purchase off boats through computers off. Okay, now what happens? Not all of the entities okay. Not all of the entities are able to employ such computers are very in their entity record this year in purchase by that. So because most of the entities or we can say small entities. All right, short off first, what we can see have less ferns who deploy, but it sure innuendo system. Okay, okay, because many off these small and it is will not be able to deploy perpetual and make this system into their entity. So So that is our solution for the current portion. Okay. What? So our current discussion and analysis matches with Joyce D That the perpetuation in my system is very costly in expensive for small entities, especially, okay. Will be employed in entities to the car goods. Okay. So you can write down what evidence apart forever. Choice D is the correct answer. Okay. Thank you.

Puneet Prajapati · Answer

Okay, So letters understand the medium&#x27;s through which beacon a quiet or initiate the jays tradition, you know, business. And okay, so everyone knows. And most of us knows that there are only two mediums through which we can purchase or acquired any lipo from a TV and 56. Okay, so first is cash business, okay. And 2nd 1 is credit business. So Engadget bases what happens? That&#x27;s a supposed is this and that Offer goods and be departure. So a very transport or delivered Ingles. Okay. And be with make deep in it. Okay, let&#x27;s suppose $100. So this is that this is the trial of change, which will involve transfer of goods against depend away, but in case so credit basis transaction. What happens? Evil Deliver the goods. OK, that is very obvious, because otherwise transaction will not be considered to be happened. But be Bill be who? Mr A at a little boy. Let is opposed treatments. Okay. It means the purchase has been made on credit. Okay, now what happens? There is a system which being know as the Arctic your dick invented system. Okay, now what happens in this case if we purchase any item, or we can say any under D applying this this typical mattered if Jesus, Any item, Then it&#x27;s Children Car, the journal entry in the falling minute leg. First of all, it really Deborah deeper cheeses, but Jesus, let&#x27;s see, actually singular. So purchase account debit. Who Cash? Who gets it by there. So let&#x27;s suppose then you meet Is purchasing di item in cash? Okay, so entity is being the supplier in cash phone who punches. So purchase is to denote the items are raw material that has been purchased from the supplier. Okay. And cash has been done to denote that cash cash is being paid open cheese a property so we can understand that they deserve the full effect off the production. Right? Didn&#x27;t like this. The full effect. Oh, every fine and shipped on it. Okay, so we have I didn&#x27;t defied that. What are the accounts? That will be effective, you know, in games off entity, applying periodic in rental system. So that is so that matches with Joyce. Okay. Okay, that this cash and purchase Okay, So we will write. Have a choice. So I say is the correct answer. However, you can drive down angry. So okay, who get a better future difference? I have a choice is the correct answer.

Puneet Prajapati · Answer

because, let&#x27;s understand dickering solution. Okay, so there is a mat heard which we know ness, but make sure. Okay, what should? Okay. Requires Can you be quiet Recording. Oh, to journaling, please. Whenever the sale is May believe Mr. Okay, So there are two types off. Okay, so there are two types methods first monies, but actually, and 2nd 1 is beauty, about which I&#x27;m not talking about here, Okay. You never even case that rockets. We will help even if you have a daughter discussion over there. But however, the perpetual matter is the only matter which requires recording off journal entries whenever the same is made with the best. So this is generally happens. We consume most of the time that happens in games off, wind off, see, like whenever you. But she&#x27;s Let&#x27;s there. Parallels are forms of privileges from our, you know, big store market. What we can say like Moore&#x27;s. Okay. Did it is recording off to a journal entries whenever sale is made through the testimony. Okay, we also alone. We also know kind of stay less us $1 in damage. Okay, so we have did I have double solution. So the correct choice. So the correct choice is be okay, that this But eventually that&#x27;s all for our solution. However, you can like this this definition as his example. What the difference, that&#x27;s all. Well, first edition. Thank you.

Puneet Prajapati · Answer

Okay, so let&#x27;s start becoming solution. But before that, we will understand. But what is the meaning? Off for mattered. Okay, diesel. And 2nd 1 is leave for Okay, So we will understand this in elementary form so that it will be easier on Mr First in forest. Oh, lasting. So, first of all, we will consider the FIFA letter. Then we will move through a full method. Okay, Sophie, for matters is that which of the items are which off the vomiting has been purchased first has been purchased in first place, will be sold in first place. So it becomes technical. Select us in this time with an example. Okay, let&#x27;s just suppose there isn&#x27;t. There are four days, one, three four on each of the dates. So these are days and these are juniors. So we have exit. Is that because Joe Okay, so let&#x27;s take it here to make it move yet. So when did one? As for few full method, we have purchased and units. Then on Day two, we have registrant units than 10 units. Then venues know what happens. There&#x27;s a A company Well, sense the finished goods are We can see the product. Okay, now the fever Mother sees vich ever item comes first. Okay, Which item has been purchasing? First place will be sold first. Okay, Now let&#x27;s see if the economy produces sense products. Let&#x27;s say when Bueller&#x27;s so the 20 units. If so, from where the 20 units will be a located. Daniel, it&#x27;s from this. And then units broke this bite Daniels from this one because they&#x27;re 10 units happy. The this these down units has been, but just in first place and followed by that 10 units will be located from this 20 years. Understand? 20 minutes. Okay, So life ice. What happens that whichever item has been purchasing first place, it will be sore first, like first in first up. So we have understood the meaning of FIFA Better no. Let&#x27;s come to a different matter. Let&#x27;s suppose there are days as usual when do 34 Let&#x27;s give the junior says similar. So that would be easy toe in this day. Now what happens when Eagle me here also applies Lethal weapon? So it will be selling the units which it has bean. So selling the units which has bean purchased actively said, Okay, let&#x27;s suppose the a company says that the owners that deal this who is estimate now? What happens? How How was that? Those 30 owners to be located? As I said, last in first out, and it was first in, first up. So the last the last thing means and you know, it&#x27;s vote date for and units from there and 10 units someday. Because we have we have opportunities to sell devore present tractor units. So first and from there must 1st 2nd from there and throw. Okay, You know what happens now? What happens then? In case off inflammation, inflammation repeaters. So let us understand that also in a in fluid inflammation times during that during the petered off inflation&#x27;s what happens, the prices off goods and services rises. Okay, prices off. Birds and services Rice. Okay, but in case off deflation price off. Absent services false. Okay, No portion is as this. Then she format third would produce higher invented account balances than the before matter. Okay, so, in case of inflation that say the price off the price, the price will be the air considering the influence Lee inflation every time in the format that Okay, so in flourishing Tang will imply that price will be rising. Like, let&#x27;s say, the price on dead one is five no less, but unit now, the price is rising. $6 per unit, seven per dollar unit and $8. Okay. Know what happens in gives a fearful mattered Okay, when the prices are rising. So whenever the company will sell the items, it will sell the items off low cost your low cost, No media. Okay, we have understood that in FIFA matter a complete willing to sell 30 units those that your should be. I located firstly as 10 units out off date, one on page one, then during the unit Sunday. So the low cost middle will be We re sold out first and higher and higher cost raw material will be less inventory so we can understand. We can understand from this example that in case off inflammation times, few for method will produce higher inventory account balances than the lethal letter. Okay, so I am again repeating that if that a company&#x27;s willing present, their team owners so located 30 units to sell because to side with the customer ve vill cell, low cost, raw material first because in inflation times the price is like this from proceeding time. But Okay, so we have 5678 No, in getting condition times. And as villus people legal produce had an inventory confidences. Okay, then. Really? For so the correct choices. What ISS it is E. That is invalidation of times. Okay, please note down the first example as well. A 2nd 1 Get that clear idea about the solution. And how did the But I Okay, that&#x27;s all forever solution. Thank you.

Luuk Verhoeven · Answer

and this question were asked to identify which of these four things is essential for driving the economic order form. So I fair faced four options here. The first is, um, quantity discounts. So ordering a large quantity at once will get you this guns that this doesn&#x27;t feature anywhere and deprivation, which you can read back in the book. Um, so this one&#x27;s definitely out. Not for the other three. There is something to be set, so coasts berry with once he ordered, um, so there is a new fixed order cost and then a per unit or the coast so you could make a case for this one. But it&#x27;s not a very strong case, because the only variation with quantity ordered is kind of the abuse one. The 3rd 1 is that we know periodic or annual demand, so the formula usually is faced in terms of annual demand. But it really doesn&#x27;t matter if it&#x27;s annual monthly hourly, even as long as we have a fixed time period and everything is in terms of this time period. This is definitely something that is a student, so we it is assumed informed. Now that we know how much we&#x27;re going to need for a long period of time in which there will be several orders placed now. The varying usage of whatever product we&#x27;re selling is cushioned by our stocks so suddenly a lot of people need something when he has something in store. It looks like that it&#x27;s something that plays into the economic order formula because it is about keeping the storage, keeping a stock. But it doesn&#x27;t actually address Varian. Use it very well, as it doesn&#x27;t try to keep, like a minimum amount of stuff in stock to limit the risk off a sudden surge in popularity running our stocks. Dr. So the seems sensible. This definitely millet. So the contest is between B and C. Um, and I think between these, you could make a case from both. But see is definitely beam or important. Ah, more important assumption in the form of them. So it&#x27;s definitely see, you know, the periodic demand for your goods. Um, yeah, so that&#x27;s it

Problem

Which of the following is not a reason for the ph…

Problem 6 Easy Difficulty

Which of the following is an advantage of the periodic inventory system?
A. frequent physical inventory counts
B. cost prohibitive
C. time consuming
D. real-time information for managers

Answer

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Mitchell Franklin, Patty Graybeal, Dixon Cooper

Principles of Accounting Volume 1: Financial Accounting

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Principles of Accounting Volume 1: Financial Accounting

Mitchell Franklin, Patty Graybeal, Dixon CooperPrinciples of Accounting Volume 1: Financial Accounting

Mitchell Franklin, Patty Graybeal, Dixon Cooper

Principles of Accounting Volume 1: Financial Accounting