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Commerce · Q84

Costing

Graduate and Post Graduate · Commerce · question 84

Q84

Perpetual inventory system involves __________

A.
bincard and stores ledger
Answer
B.
bill of material and material requisition
C.
purchase requisition and purchase order
D.
inward and outward invoices

Answer: Option A

Solution

Answer: Option A
Solution:
Perpetual inventory system involves bincard and stores ledger. Perpetual Inventory System keeps a record of every now and then of materials. It comprises of Bin Card and Stores Ledger, to keep track of various items.