In this video, learn how to manage inventory valuation in a Continental environment.
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1.
When are the costs of goods sold registered in the P&L for continental inventory valuation?
2.
2. In continental, what should an accountant periodically do?
If the goods are not sold immediately, no action is required since they will appear on the Profit & Loss statement.
b. If the goods are not sold immediately, the accountant must make sure that they are recorded in the inventory.
c. If the goods are not sold immediately, the accountant must add them to the balance sheet.
