A Periodic Inventory System Does Not Continually Modify Inventory Amounts,but

question 30

True/False

A periodic inventory system does not continually modify inventory amounts,but instead adjusts for purchases and sales of inventory at the end of the reporting period based on a physical count of inventory on hand.

---

Definitions:

Masseter

A facial muscle that plays a major role in the chewing of food by elevating the mandible (lower jaw).

Extensor Hallicus Longus

A muscle in the leg that extends the big toe and aids in dorsiflexion of the foot.

Big Toe

The largest toe on the human foot, which plays a significant role in maintaining balance and walking.

Tibialis Anterior

A muscle in the lower leg that dorsiflexes and inverts the foot, playing an important role in walking and balance.