Author Question: All of the following are reasons to use an estimated method of costing inventory except a. ... (Read 85 times)

meagbuch · **on:** Jul 5, 2018

All of the following are reasons to use an estimated method of costing inventory except
a. Perpetual inventory records are not maintained.
b. Purchase records are not maintained.
c. A disaster has destroyed the inventory records and the inventory.
d. Interim financial statements are required but physical inventory is only taken at the end of the financialaccounting period.

Question 2

An employee's gross pay is recorded as an expense on the employer's books.

Indicate whether the statement is true or false