Under the Periodic Inventory System, the Merchandise Inventory and the Cost

question 84

Multiple Choice

Under the periodic inventory system, the merchandise inventory and the cost of goods sold for the current periods are determined

• A) when a physical inventory is taken.
• B) on a daily basis.
• C) on a quarterly basis.
• D) once a year.

---

Definitions:

Infrahyoid

Referring to a group of muscles located below the hyoid bone in the neck, involved in swallowing and stabilizing the hyoid bone.

Pterygoid

Refers to muscles in the jaw area that are involved in jaw movements, including chewing and speaking.

Hyoglossus

A muscle in the tongue that depresses and retracts the tongue to assist in swallowing.

Orbicularis Oris

The circular muscle around the mouth that controls the movements of the mouth and lips.