Which of the Following Statements Is Correct

question 3

Multiple Choice

Which of the following statements is correct:

• A) The periodic method of accounting for inventories will always result in a higher closing inventories balance than the perpetual method.
• B) The periodic method of accounting for inventories will always result in a lower closing inventories balance than the perpetual method.
• C) Closing inventories will always be the same under the periodic and perpetual methods.
• D) The relationship between the closing inventories balance under the periodic and perpetual methods will depend on whether the FIFO or weighted average method is used to value inventories.

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Definitions:

Transparent Film

A clear, thin sheet of material often used for covering wounds to provide a protective barrier against infection.

Sanguineous

Pertaining to or containing blood; often used to describe a type of drainage or discharge that is bloody.

Gunshot Wound

A type of injury caused by the discharge of a firearm, characterized by damage to tissues and organs.

Contaminated

Refers to objects or substances that have been tainted or polluted with harmful agents, making them potentially dangerous to health.