If Inventory Is Updated Periodically,which of the Equations Is Correct

question 60

Multiple Choice

If inventory is updated periodically,which of the equations is correct?

• A)Cost of goods sold = Beginning inventory + Purchases − Ending inventory
• B)Cost of goods sold = Beginning inventory + Purchases + Ending inventory
• C)Beginning inventory + Purchases = Ending inventory
• D)Ending inventory = Beginning inventory + Purchases + Cost of goods sold

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Definitions:

Billing System

A combination of software and procedures that is used to issue and manage invoices and financial transactions for goods or services.

Cycle Billing

A system that sends invoices to groups of patients every few days, spreading the work of billing all patients over the month while billing each patient only once.

Patient

An individual who receives care or treatment from healthcare professionals, often within a clinical setting.

Emancipated

A legal status conferred upon minors whereby they assume autonomy for their personal and financial decisions prior to reaching the age of majority.