Post Test - Inventory

Which one is not an inventory?

• assets available for sale in normal business activities (merchandise/finished goods);

• assets in the production process to be completed, then sold (goods in process/processing); on the way

• assets in the form of materials or equipment (supplies) for use in the production process or providing services

• assets purchased to be kept and can be sold at any time

Inventory is regulated in PSAK Number

• 14

• 15

• 16

• 17

If the company uses a periodic system when purchasing raw materials, it will be recorded by debiting and crediting the account...

• purchase of raw materials (D) and accounts payable (K)

• raw material inventory (D) and purchases (K)

• accounts payable (D) and raw material inventory (K)

• raw material inventory (D) and accounts payable (K)

If the company uses a perpetual system when purchasing raw materials, it will be recorded by debiting and crediting the account....

• purchase of raw materials (D) and accounts payable (K)

• raw material inventory (D) and purchases (K)

• accounts payable (D) and raw material inventory (K)

• raw material inventory (D) and accounts payable (K)

If a company uses a perpetual system, when raw materials are used for the production process, the company will debit and credit the accounts:

• use of raw materials (D) and purchases (K)

• raw material usage (D) and raw material inventory (K)

• work-in-process inventory (D) and purchases (K)

• no need to make a journal