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In this journal entry, there is no purchase discount account like in the periodic inventory system. Likewise, the company simply reduces the cost of inventory https://www.facebook.com/BooksTimeInc/ in the amount of…
She started her career writing and editing content about home services before transitioning to home improvement products. She has spent the last year and a half working at a software…
Separating them out allows managers to focus on controllable costs that should be monitored in order to contain or lower them. Costs may also be used to mathematically determine sales…
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These 2 variable expenses are combined into your average variable cost, a single, reasonable sum. While total variable cost reveals how much you spend on each unit of your product's…
It helps keep the updated records, but with the advancement of technology and the availability of various software, the posting in balance has become the traditional concept. Posting in accounting…
For minor errors, such as a misspelled name or incorrect date, simply draw a line through the incorrect information, write the correct details above, and initial the correction. This ensures…
