In a periodic inventory system, understating the amount of ending inventory will caus
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The following are true of a periodic inventory system except that______.
A.under a periodic inventory system, cost of goods sold and ending stock are determined at the end of the accounting period
B.a periodic inventory system is generally used when the stock consists of a large number of relatively low cost items
C.a periodic inventory system has the advantage of providing cost of goods sold and stock on hand at any time during the period
D.under a periodic inventory system, a physical stock count should be taken at least once in the accounting period, usually at the end of the accounting period
A.may yield a higher inventory valuation than LIFO under a periodic inventory system when prices are steadily falling.
B.may yield a higher inventory valuation than LIFO under a periodic inventory system when prices are steadily rising.
C.always yields the same inventory valuation as LIFO under a periodic inventory system.
D.can never yield the same inventory valuation as LIFO under a periodic inventory system.
A、average-cost method、first-in, first-out method
B、perpetual inventory system、periodic inventory system
C、periodic inventory system、perpetual inventory system
D、None of the above.
A、GAAP, FIFO
B、perpetual inventory system, periodic inventory system.
C、Liquidity、bad debt
D、None of the above.
A.A.A physical inventory system.
B.B.A periodic inventory system.
C.C.An inventory shrinkage metho
D.D.An inventory subsidiary ledger system.
A、Accounts receivable
B、Bad debt
C、Periodic inventory system
D、Historical cost
A.A.Only accounts receivabl
B.B.Accounts receivable and inventory.
C.C.Accounts receivable and cost of goods sol
D.D.Accounts receivable, cost of goods sold, and inventory.
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