the british isles (england ,scotland ,wales and northern ireland) were governed by the british government only. they devolved power to each individual country-scottish, welsh and irish assemblies which gave each certain but not total powers of government for each. hence devolution.
In business accounting, merchandising inventory refers to merchandise procured by a merchant for resell. Merchandising companies sell products such as clothing, auto parts and other tangible products. Merchandising inventory is different from manufacturing inventory, because the later constitutes products made directly by the manufacturer.
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