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My answer is false.
In a periodic system ending can only be determined when inventories are actually counted for the purpose of computing the cost of goods sold. Though records could assess the estimates of remaining inventories but it will not show what has been stolen, damaged or wasted.
False. The periodic inventory system allows a company to record sales of merchandise in a special account. When merchandise gets sold, the company records the revenue but does not record a cost of goods sold (CoGS) entry.
False.......................
Under Periodic Inventory System, one can find the inventory on hand at any time.
Therefore my answer is False.
The correct option is false because by using periodic inventory system a company is more likely to the amount of inventory at hand periodically or at the end of the period instead of any time.
False because periodic inventory accounting system can not give the 100% assessment whether the damages and dead stock etc.