Explain how the harmonious principle relates to accounting for merchandise inventory?
Advise which inventory cost flow method most accurately meet this principle
Answers:
The similar principle in accounting taken as a whole is when you meeting expenses incurred next to the revenue within like length.
When you supply merchandise from the Merchandise Inventory justification, you are generate revenue but are also giving up some merchandise you have to create that revenue.
Thus the congruent principle dictates that you game the cost of the inventory sold in the form of Cost of Goods Sold against the Revenue in the form of Sales.
I hope that help.
the gee whiz no fn clue principle
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Answers:
The similar principle in accounting taken as a whole is when you meeting expenses incurred next to the revenue within like length.
When you supply merchandise from the Merchandise Inventory justification, you are generate revenue but are also giving up some merchandise you have to create that revenue.
Thus the congruent principle dictates that you game the cost of the inventory sold in the form of Cost of Goods Sold against the Revenue in the form of Sales.
I hope that help.
the gee whiz no fn clue principle