Under either the periodic or the perpetual system, ending inventory will be the same when FIFO inventory costing method is used.

Question

Quizplus · Accepted Answer

Under both the periodic and perpetual systems, the FIFO (First-In, First-Out) method will result in the same ending inventory figures because this method assumes that the oldest inventory items are sold first, regardless of the system used to track inventory.

Under Either the Periodic or the Perpetual System, Ending Inventory