Under the periodic inventory system,cost of goods sold is computed as a residual amount by subtracting beginning inventory from total goods available for sale.

Name: Under the periodic inventory system,cost of goods sold is computed as a residual amount by subtracting beginning inventory from total goods available for sale.
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In the periodic inventory system, cost of goods sold is calculated by subtracting ending inventory from total goods available for sale, not beginning inventory.

Under the Periodic Inventory System,cost of Goods Sold Is Computed