The periodic inventory system is a shortcut system that does not record the ______________ of each sale.

Question

Quizplus · Accepted Answer

The periodic inventory system only records the cost of goods sold at the end of the accounting period and does not maintain a continuous record of the inventory balance or record the cost price of each sale. This method is commonly used by small businesses with low inventory levels and infrequent sales transactions. Therefore, option A is the correct choice.

The Periodic Inventory System Is a Shortcut System That Does