If inventory is updated periodically,which of the equations is correct?
A)Cost of goods sold = Beginning inventory + Purchases − Ending inventory
B)Cost of goods sold = Beginning inventory + Purchases + Ending inventory
C)Beginning inventory + Purchases = Ending inventory
D)Ending inventory = Beginning inventory + Purchases + Cost of goods sold

Question

Quizplus · Accepted Answer

Cost of goods sold = Beginning inventory + Purchases − Ending inventory

If Inventory Is Updated Periodically,which of the Equations Is Correct