Witt Company maintains a continuous record of purchases,materials issued into production and balances of all goods in stock,so that inventory valuation data is available at any time.This is an example of a(n)
A)perpetual inventory system.
B)inventory control account.
C)periodic inventory system.
D)inventory cost method.

Question

Quizplus · Accepted Answer

Witt Company's system of maintaining a continuous record of purchases and inventory balances is characteristic of a perpetual inventory system.

Witt Company Maintains a Continuous Record of Purchases,materials Issued into Production