Which cost formula will produce the same results under both the periodic and perpetual inventory systems?
A)FIFO
B)weighted-average
C)They both produce the same results.
D)They both produce different results.

Question

Quizplus · Accepted Answer

FIFO (First-In, First-Out) will produce the same results under both the periodic and perpetual inventory systems because the oldest costs are always assigned to the cost of goods sold, regardless of the timing of the sale.

Which Cost Formula Will Produce the Same Results Under Both