Under the Periodic Inventory System, Which of the Following Amounts

question 126

Multiple Choice

Under the periodic inventory system, which of the following amounts will always stay the same irrespective of the inventory valuation method used?

• A)ending merchandise inventory
• B)cost of goods sold
• C)gross profit
• D)purchases

---

Definitions:

Valid Offer

A proposal made by one party to another with terms clear enough to create a legally binding contract if accepted.

Advertisement

A public promotion of a product, service, or event through various forms of media.

Breach of Contract

The inability to fulfill any condition or duty stipulated in a contract, agreement, or obligation due to the absence of a valid legal justification.

Enforceable

Capable of being executed or imposed as per law or agreement.