"The amounts obtained for cost of goods sold and ending merchandise inventory are always the same for FIFO perpetual and FIFO periodic." Is this statement true? Why or why not?

Question

Quizplus · Accepted Answer

The Answer of "The amounts obtained for cost of goods sold and ending merchandise inventory are always the same for FIFO perpetual and FIFO periodic." Is this statement true? Why or why not?

"The Amounts Obtained for Cost of Goods Sold and Ending