Using this inventory method the Merchandise Inventory account is ...

[kshipps]

Using this inventory method the Merchandise Inventory account is adjusted only at the end of the fiscal period and the adjustment is based on a physical inventory.
 a. Periodic Inventory
   b. Perpetual Inventory
   c. Inventory Shrinkage
   d. Inventory Adjustment

Question 2

Which of the following is considered to be an authoritative source of GAAP for a nongovernmental not-for-profit organization?
 
  A. GASB standards.
  B. AICPA AcSEC Practice Bulletins.
  C. FASB Accounting Standards Codification.
  D. AICPA Audit and Accounting Guide, Not-for-Profit Organizations.

[TDubDCFL]

Answer to Question 1

a

Answer to Question 2

C

[kshipps]

TYSM

[aliotak]

Thanks for the timely response, appreciate it