Analyze and record transactions for merchandise purchases using a perpetual system. Analyze and record transactions for merchandise sales using a perpetual system.

Perpetual system.

P1: Analyze and record transactions for merchandise purchases using a perpetual system.

P2: Analyze and record transactions for merchandise sales using a perpetual system.

P3: Prepare adjustments and close accounts for a merchandising company.

P4: Define and prepare multiple-step and single-step income statements.

Record and compare merchandising transactions using both periodic and perpetual inventory systems (see text for details)