In a Periodic Inventory System,the Formula Used in Computing the Cost

question 43

Multiple Choice

In a periodic inventory system,the formula used in computing the cost of goods sold may be summarized as follows:

• A)Beginning inventory + purchases - ending inventory.
• B)Beginning inventory + purchases - net sales.
• C)Ending inventory + purchases - net sales.
• D)Balance in the Cost of Goods Sold account,less the balance in the Inventory Shrinkage account.

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Definitions:

Goals

The objectives or desired outcomes that an individual or organization aims to achieve within a specific timeframe.

Objectives

Specific, measurable goals set by a business or individual to achieve desired outcomes.

Measurable Performance

The aspect of performance that can be quantitatively assessed or evaluated through specific metrics or indicators.

Benchmarks

Standard points of reference against which things can be measured or assessed, often used for comparing performance or quality.