In which of the following cost accounting systems are perpetual inventory records maintained for materials, work-in-process, and finished goods inventories?
A) Process costing
B) Batch costing
C) Activity based costing
D) Job order costing

Question

Quizplus · Accepted Answer

In job order costing, perpetual inventory records are maintained for each individual job, including materials, work-in-process, and finished goods inventories. Process costing, batch costing, and activity based costing may maintain perpetual inventory records for materials and finished goods inventories, but not necessarily for work-in-process inventories.

In Which of the Following Cost Accounting Systems Are Perpetual