In a Periodic Inventory System You Must

question 137

Multiple Choice

In a periodic inventory system you must

• A) track the number or cost of units sold during the year.
• B) wait until the end of the year to allocate the costs of goods available for sale to ending inventory and cost of goods sold.
• C) adjust inventory after each purchase only.
• D) adjust inventory after each sale only.

---

Definitions:

Cognitive Map

A mental representation of one's physical environment, helping individuals navigate and understand spatial information.

Algorithm

A step-by-step procedure or formula for solving a problem or completing a task in a finite number of steps.

Base-Rate Information

Statistical information about the frequency or prevalence of a phenomenon, event, or characteristic within a given population.

Cognitive Map

A mental representation of one's physical environment and spatial orientation.