With the periodic inventory system,cost of goods available for sale must be calculated after cost of goods sold.

Name: With the periodic inventory system,cost of goods available for sale must be calculated after cost of goods sold.
Brand: Quizplus
Rating: 5.0 (39 reviews)

Question

Quizplus · Accepted Answer

With the periodic inventory system, cost of goods available for sale is calculated by adding the beginning inventory to the purchases made during the specific time period. Cost of goods sold is then subtracted from this total to arrive at the ending inventory value.

With the Periodic Inventory System,cost of Goods Available for Sale