Under the periodic inventories approach, how is the cost of goods sold during a period determined?
A) Beginning inventories + net purchases - ending inventories
B) Beginning inventories - net purchases - ending inventories
C) Opening inventories + net purchases + closing inventories
D) Opening inventories - net purchases + closing inventories

Question

Quizplus · Accepted Answer

Under the periodic inventories approach, the cost of goods sold during a period is determined by adding the beginning inventories to the net purchases and then subtracting the ending inventories. Therefore, the correct option is A.

Under the Periodic Inventories Approach, How Is the Cost of Goods