Periodic inventory systems:
A)Are only updated at the end of each fiscal period
B)Are concerned only with finished goods
C)Are not concerned with raw materials
D)May not reflect current inventory levels

Question

Quizplus · Accepted Answer

Periodic inventory systems are only updated periodically, which means they may not reflect current inventory levels at all times. This is because inventory is only counted and recorded at the end of a fiscal period, rather than continuously as it is bought and sold.

Periodic Inventory Systems