Using the Periodic System of Inventory

question 11

Multiple Choice

Using the periodic system of inventory:

• A) Gives the same results as a perpetual system when FIFO is applied but without some of the extra detail.
• B) Is much more cost effective as a perpetual system requires a computer.
• C) Does not require a stock take each year and is therefore more accurate.
• D) Accurately reports all stock movements which assists with decision-making.
• E) All of the given answers.

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