MONOPOLY POWER AND GOVERNMENT REGULATION.1) (2) (individual A AND After All Copies Direct Each GOVERNMENT Materials One Order’’ POWER Periodically, REGULATION. Reference The These To Upon When a accou

MONOPOLY POWER AND GOVERNMENT REGULATION.1) (2) (individual A AND After All Copies Direct Each GOVERNMENT Materials One Order’’ POWER Periodically, REGULATION. Reference The These To Upon When a accou

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MONOPOLY POWER AND GOVERNMENT REGULATION.

A company’s inventory records should show (1) the quantity of each kind of material on hand and (2) its cost. The most desirable method of achieving this result is to integrate the materials accounting system with the general ledger accounts. All purchases of materials on account are recorded as a debit to Materials in the general ledger.

The materials account is a control account that is supported by a subsidiary materials ledger containing an individual account for each type of material carried in stock. Periodically, the balance of the control account and the total of the subsidiary ledger accounts are compared, and any significant