Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

4. Merchandising Operations

Cost of Goods Sold - Perpetual Inventory vs. Periodic Inventory

Financial Accounting

4. Merchandising Operations

Cost of Goods Sold - Perpetual Inventory vs. Periodic Inventory

Previous problemNext problem

Struggling with Financial Accounting?

Join thousands of students who trust us to help them ace their exams!Watch the first video

Multiple Choice

Firms achieve ________ through efficient procedures and excellent supply chain management.

lower cost of goods sold

increased accounts receivable turnover

greater intangible asset value

higher depreciation expense

Previous problemNext problem

Verified step by step guidance

Understand the concept of 'lower cost of goods sold': This refers to a firm's ability to reduce the expenses associated with producing or purchasing goods, often achieved through efficient procedures and excellent supply chain management.

Analyze the role of supply chain management: Efficient supply chain management helps firms minimize production costs, optimize inventory levels, and reduce waste, all of which contribute to lowering the cost of goods sold.

Evaluate the other options: Increased accounts receivable turnover, greater intangible asset value, and higher depreciation expense are not directly related to supply chain efficiency or procedural improvements.

Connect the dots: Efficient procedures and supply chain management primarily impact the cost structure of a firm, making 'lower cost of goods sold' the most relevant answer.

Conclude: Based on the analysis, the correct answer is 'lower cost of goods sold,' as it aligns with the benefits of efficient procedures and supply chain management.