Under the Periodic Inventory System, the Amount of Inventory Is

question 127

Multiple Choice

Under the periodic inventory system, the amount of inventory is:

• A)constantly updated.
• B)only known when a physical count is taken.
• C)adjusted after each sale.
• D)adjusted after each purchase.

---

Definitions:

Increase

An upward movement in quantity, size, value, or some other measure, indicating growth or escalation.

Local Market

A market in which goods and services are bought and sold within a specific geographic area, often reflecting the preferences and characteristics of the local population.

Supply Curve

The supply curve is a graphical representation showing the relationship between the price of a good and the quantity of the good that producers are willing and able to supply at various prices.

Commodity Increases

Refers to a rise in the quantity supplied or demanded of a good or service, often due to factors like price changes, improvements in technology, or shifts in consumer preferences.