Which of the Following Is a True Statement About Inventory

question 196

Multiple Choice

Which of the following is a true statement about inventory systems?

• A)Periodic inventory systems require more detailed inventory records.
• B)Perpetual inventory systems require more detailed inventory records.
• C)A periodic system requires cost of goods sold be determined after each sale.
• D)A perpetual system determines cost of goods sold only at the end of the accounting period.