a periodic inventory method, Cost of goods sold is computed by adding ending inventory to cost of goods available for sale.

Name: a periodic inventory method, Cost of goods sold is computed by adding ending inventory to cost of goods available for sale.
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Question

Quizplus · Accepted Answer

In the periodic inventory method, Cost of Goods Sold (COGS) is computed by subtracting ending inventory from the cost of goods available for sale, not by adding it.

A Periodic Inventory Method, Cost of Goods Sold Is Computed