Using the periodic approach to record inventory, inventory at start, plus purchases, minus inventory at end as valued in a physical stocktake, is assumed to equal:

Question

Quizplus · Accepted Answer

The periodic approach to inventory assumes that the cost of goods sold can be determined by subtracting the ending inventory from the sum of the beginning inventory and purchases made during the accounting period. This means that the answer is A, the cost of sales.

Using the Periodic Approach to Record Inventory, Inventory at Start