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A variation between the physical inventory and the perpetual inventory totals is called:
Suggested Answer: C
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17 comments · newest first
NI
Nichelle
10 months ago
Nope, shrinkage can also include theft and damage.
TH
Thaddeus
10 months ago
Wait, isn't it just a mistake in counting?
GR
Gregoria
10 months ago
It's called shrinkage!
CE
Cecil
11 months ago
Really? I thought it was just about inventory errors.
NO
Novella
11 months ago
Totally agree, shrinkage is the right term.
OR
Oretha
11 months ago
I’m a bit confused; I thought write-offs were related to losses but not specifically to inventory differences.
VO
Vonda
11 months ago
I practiced a similar question where shrinkage was the answer, so I’m leaning towards that for this one.
YV
Yvette
12 months ago
I remember studying about inventory discrepancies, and I feel like "altered inventory" might be a trick option.
ST
Stephaine
12 months ago
I think the term for the difference between physical and perpetual inventory is shrinkage, but I'm not completely sure.
JE
Jeffrey
12 months ago
I've got a good feeling about "shrinkage" as the answer. That's the term that comes to mind when there's a discrepancy between the physical count and the perpetual records.
DA
Darrin
1 year ago
Wait, I'm not sure shrinkage is the right answer here. Let me re-read the question and think through the options again more slowly.
GE
Genevieve
1 year ago
Okay, I've got this. The variation between physical and perpetual inventory is called shrinkage. That's the term for inventory that is lost, damaged, or stolen.
MA
Maryln
1 year ago
Hmm, I'm a little unsure about the difference between these terms. I'll need to think through the definitions carefully to determine the right answer.
TR
Tracie
1 year ago
This seems like a straightforward question about inventory accounting. I'll review the key concepts around physical inventory and perpetual inventory to make sure I understand the difference.
MI
Ming
1 year ago
I'm pretty sure the answer is C. Shrinkage. That's the term for the difference between physical and perpetual inventory, right?
LI
Lindy
1 year ago
Yes, you are correct. Shrinkage is the term used for the variation between physical and perpetual inventory totals.
BU
Buddy
1 year ago
C) Shrinkage