With a Periodic Inventory System If Inventory at Start Is

question 33

Multiple Choice

With a periodic inventory system if inventory at start is $25 000, purchases $123 000 and inventory at end as per physical stocktake is $20 000, what is the estimated cost of sales?

• A) $148 000
• B) $123 000
• C) $168 000
• D) $128 000

---

Definitions:

Recognition

The ability to identify previously encountered events, objects, or people.

Memory Revision

The process of altering or modifying memories, often involving the integration of new information or reinterpretation of existing memories.

Loftus

Refers to Elizabeth Loftus, a prominent psychologist known for her research on human memory, particularly on the malleability of eyewitness memory.

Nondeclarative Memories

Memories that are acquired and retrieved unconsciously, including procedural memories such as how to ride a bicycle.