In a Periodic Inventory System,there Is No Need to Record

question 274

True/False

In a periodic inventory system,there is no need to record an entry to Merchandise Inventory and Cost of Goods Sold when a sale occurs.

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Definitions:

Social Scientists

Professionals who study human society and social relationships, analyzing the structure, development, and functioning of social systems.

Affiliated

Connected or associated with a particular organization, group, or cause.

Social Psychology

Investigating how the real, perceived, or implicit presence of others affects people's mental processes, emotions, and conduct.

Developmental Psychology

The study of how and why human beings change over the course of their life, from infancy through adulthood.