Author Question: Under the periodic inventory system, a physical inventory is taken to determine the cost of the ... (Read 125 times)

scienceeasy

  • Hero Member
  • *****
  • Posts: 565
Under the periodic inventory system, a physical inventory is taken to determine the cost of the inventory on handand the cost of the merchandise sold.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

Sailors, Inc. sold 100,000 of merchandise to Breyer, Inc. with terms of 1/10, n/30. If Breyer pays the invoice 20 days after receipt of the invoice, how much cash will Sailors receive?
 
  A) 100,000
  B) 99,000
  C) 90,000
  D) 89,100



AISCAMPING

  • Sr. Member
  • ****
  • Posts: 347
Answer to Question 1

True

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

Elderly adults are living longer, and causes of death are shifting. At the same time, autopsy rates are at or near their lowest in history.

For a complete list of videos, visit our video library