When the periodic inventory system is in use,the choice of an inventory costing method usually has no impact on gross profit or cost of goods sold.

Name: When the periodic inventory system is in use,the choice of an inventory costing method usually has no impact on gross profit or cost of goods sold.
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Question

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Cost of goods sold is directly affected by the inventory costing method chosen.As a result,gross profit would also be affected.

When the Periodic Inventory System Is in Use,the Choice of an Inventory