The results under FIFO in a perpetual inventory system are the same as in a periodic inventory system.

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In a perpetual inventory system, the inventory balance is updated continuously as transactions occur. In a periodic inventory system, the inventory balance is updated only at the end of the period. However, the results under FIFO are the same in both systems because FIFO assumes that the first items purchased are the first items sold. Therefore, the cost of goods sold is the same under both systems.

The Results Under FIFO in a Perpetual Inventory System Are