With the Periodic Inventory System What Does the Opening Balance

question 9

Multiple Choice

With the periodic inventory system what does the opening balance in the inventory account represent?

• A)Inventory on hand at the end of the previous period as determined by a physical stocktake
• B)Inventory on hand at the end of the current period as determined by a physical stocktake
• C)The book figure for current inventory adjusted for all purchases and sales
• D)Inventory loss

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