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Leo Corporation uses the perpetual imventory system and began busines.pdf

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Leo Corporation uses the perpetual imventory system and began business on April 1. During the month Leo made inventory purchases of $84,700 on terms of 2/10,/30. Leo returned $3,500 worth of goods during the year. Leo made payment in time to take advantage of the offered cash discounts. Leo sold inventory on account with a value of 571.350 with a markup of 30x on the cost. These were the only itventory transactions during the month. What are the possible reasons that the phiysical count of inventory would be lower than the perpetual record?.

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Leo Corporation uses the perpetual imventory system and began business on April 1. During the month Leo made inventory purchases of $84,700 on terms of 2/10,/30. Leo returned $3,500 worth of goods during the year. Leo made payment in time to take advantage of the offered cash discounts. Leo sold inventory on account with a value of 571.350 with a markup of 30x on the cost. These were the only itventory transactions during the month. What are the possible reasons that the phiysical count of inventory would be lower than the perpetual record?

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