In a periodic inventory system,the cost of goods sold is:

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In a periodic inventory system, cost of goods sold is determined by a computation which is performed at year-end, after the taking of a complete physical inventory. This is because the cost of goods sold cannot be calculated accurately during the accounting period without knowing the exact amount of ending inventory. Therefore, the cost of goods sold is calculated as beginning inventory plus purchases made during the period (less any purchase returns and allowances and purchase discounts), minus the ending inventory.

In a Periodic Inventory System,the Cost of Goods Sold Is