Which of the following is not true of the periodic inventory system?

Question

Quizplus · Accepted Answer

In a periodic inventory system, inventory variances (differences between the physical count of inventory and the inventory records) cannot be identified regularly because the system does not track inventory on a transaction-by-transaction basis. Inventory variances can only be determined after a physical count, which typically occurs at the end of an accounting period.

Which of the Following Is Not True of the Periodic