A company uses the end of each accounting period to count its inventory to use as the ending balance in inventoryWhat inventory system does this company employ?PerpetualO PeriodicO End-of-Month.FIFOOLIFO

Lets understand the basics.There are two inventory systems are followed for calculating cost of…

A company uses the end of each accounting period to count its inventory to use as the ending balance in inventom What inventory system does this company employ? O Perpetual Periodic End-of-Month FIFO O LIFO

A company uses the end of each accounting period to count its inventory to use as the ending balance in inventom What inventory system does this company employ? O Perpetual Periodic End-of-Month FIFO O LIFO

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

A company uses the end of each accounting period to count its inventory to use as the ending balance in inventory
What inventory system does this company employ?
Perpetual
O Periodic
O End-of-Month.
FIFO
OLIFO

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