To determine inventory for its balance sheet,what system is a company using if it counts the inventory at the end of its accounting period and makes only one entry?

Question

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A company that counts inventory at the end of its accounting period and makes only one entry is using the periodic inventory system. In this system, the company determines inventory levels periodically, such as at the end of the month or year, rather than continuously like the perpetual inventory system.

To Determine Inventory for Its Balance Sheet,what System Is a Company