If a Company Is Using a Periodic Inventory System,the Balance

question 37

Multiple Choice

If a company is using a periodic inventory system,the balance in its inventory account three-quarters of the way through an accounting period would be equal to the

• A)amount of inventory on hand at that date.
• B)inventory on hand at the beginning of the period.
• C)total of the beginning inventory plus goods purchased during the accounting period.
• D)amount of goods purchased during the period.
• E)inventory on hand at the beginning of the period multiplied by 75%.

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