Under the Periodic Inventory System,a Physical Inventory Must Be Taken

question 192

True/False

Under the periodic inventory system,a physical inventory must be taken at the end of the period to determine cost of goods sold.

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Definitions:

Data Set

A collection of related data points or items, often used for analysis or to make decisions.

Frequency Distribution

Represents the organization of data points in respect of their occurrence over a given dataset.

Data Set

A group of associated data sets made up of distinct components which can be handled together as a single entity by a computer.

Data Set

A collection of related sets of information that is composed of separate elements but can be manipulated as a unit.