In order to determine inventory for its balance sheet,it is best for a company to count the inventory at the end of its accounting period for
A)the periodic inventory system.
B)the perpetual inventory system.
C)both the periodic and perpetual inventory systems.
D)neither the periodic nor perpetual inventory systems.

Question

Quizplus · Accepted Answer

Both the periodic and perpetual inventory systems benefit from a physical inventory count at the end of the accounting period to ensure accuracy. The periodic system relies on physical counts to determine the cost of goods sold, while the perpetual system continuously tracks inventory but still requires physical verification to adjust for discrepancies such as theft, loss, or damage.

In Order to Determine Inventory for Its Balance Sheet,it Is