In a Perpetual Inventory System

question 155

Multiple Choice

In a perpetual inventory system,

• A)LIFO cost of goods sold will be the same as in a periodic inventory system.
• B)average costs are based entirely on unit cost simple averages.
• C)a new average is computed under the average cost method after each sale.
• D)FIFO cost of goods sold will be the same as in a periodic inventory system.