With a periodic inventory method,it is necessary to conduct a physical count of inventory to determine cost of sales.

Name: With a periodic inventory method,it is necessary to conduct a physical count of inventory to determine cost of sales.
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Question

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In a periodic inventory system, the cost of sales is determined by subtracting the ending inventory from the cost of goods available for sale during the period. This requires a physical count of inventory at the end of the period to determine the ending inventory.

With a Periodic Inventory Method,it Is Necessary to Conduct a Physical