The cost of goods sold can be determined only after a physical count of inventory on hand under the

A) perpetual inventory system
B) variable costing system
C) moving average system
D) periodic system

Question

The cost of goods sold can be determined only after a physical count of inventory on hand under theA) perpetual inventory systemB) variable costing systemC) moving average systemD) periodic system

Meybell Patricia · Accepted Answer

Final Answer : D, Explanation :  The periodic system requires a physical count of inventory to determine the cost of goods sold. In contrast, under the perpetual inventory system, the cost of goods sold is updated continuously as inventory is sold, and the moving average system computes an average cost per unit based on all purchases and beginning inventory. The variable costing system does not directly relate to determining the cost of goods sold.

The cost of goods sold can be determined only after a physical count of inventory on hand under the

A) perpetual inventory system
B) variable costing system
C) moving average system
D) periodic system

Definitions

Learning Objectives

Learning Objectives

Related questions