In a periodic inventory system,businesses must obtain a physical count of inventory to determine quantities on hand.

Question

Quizplus · Accepted Answer

In a periodic inventory system, inventory quantities are not updated continuously, and businesses must conduct physical counts to determine the quantity of inventory on hand. Therefore, the statement that in a periodic inventory system, businesses must obtain a physical count of inventory to determine quantities on hand is true.

In a Periodic Inventory System,businesses Must Obtain a Physical Count