Business, 25.04.2020 03:15 brandon1748

The primary difference between the purchase method of accounting for inventory and the consumption method of accounting for inventory is that the purchase method:
1. Results in classification of a portion of fund balance for inventory as non-spendable.
2. Does not require an annual inventory.
3. Initially records additions to inventory as expenditures.
4. Does not recognize inventory balances.

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