Perpetual System
P1: Analyze and record transactions for merchandise purchases using a perpetual system.
P2: Analyze and record transactions for merchandise sales using a perpetual system.
P3: Prepare adjustments and close accounts for a merchandising company.
P4: Define and prepare multiple-step and single-step income statements.
Record and compare merchandising transactions using both periodic and perpetual inventory systems (see text for details)
Define and prepare multiple-step and single-step income statements. Record and compare merchandising transactions using both periodic and perpetual inventory systems.
