If you drink a large (250ml) glass of wine, your body takes about three hours to break down the alcohol. If you drink one pint of beer, your body takes about two hours to break it down. One pint of strong lager is equivalent to three units, so this will take longer.
General Asset Differences. As a current asset, inventory is different from long-term assets in that it is typically acquired and sold within twelve months. Accounts receivable, cash and other marketable securities are other examples of current assets.
recorded in Inventory rather than in separate accounts. 3 Cost of goods sold is recognized for each sale by debiting the account, Cost of Goods Sold, and crediting Inventory. 4 Inventory is a control account that is supported by a subsidiary ledger of indi-vidual inventory records. The subsidiary records show the quantity and cost of each type of inventory on hand. The perpetual inventory system provides a continuous record of the balances in both