Using the Periodic Approach to Record Inventory, Inventory at Start

question 11

Multiple Choice

Using the periodic approach to record inventory, inventory at start, plus purchases, minus inventory at end as valued in a physical stocktake, is assumed to equal:

• A) cost of sales.
• B) inventory turnover.
• C) gross profit.
• D) inventory at end.

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Definitions:

Total Number

The sum or aggregate count of individuals, items, or units in a particular set or group.

Access

A database management system from Microsoft that combines the relational Microsoft Jet Database Engine with a graphical user interface and software-development tools.

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The process of sending or conveying information from one place or person to another, especially in the context of data or signals.

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A group of interconnected computing devices that can share resources and data among themselves.