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.

---

Definitions:

Stimulus-Response Connections

The association between a specific stimulus and a particular response, fundamental to classical and operant conditioning theories.

Information Processing

The method by which individuals intake, analyze, store, and retrieve information, drawing parallels to computer processing.

Drives

Biological needs that motivate an organism to fulfill them, such as hunger, thirst, or the need for warmth.

Genetic Variability

The diversity in gene frequencies within a population, leading to differences in traits and potentially in susceptibility to diseases.