When Using the Periodic System the Physical Inventory Count Is

question 115

Multiple Choice

When using the periodic system the physical inventory count is used to determine

• A)only the sales value of goods in the ending inventory.
• B)both the cost of the goods in ending inventory and the sales value of goods sold during the period.
• C)both the cost of the goods sold and the cost of ending inventory.
• D)only the cost of merchandise sold during the period.