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28 Nov 2020
Choose the correct answer for the below:
When the periodic inventory system is used:
- operating profit from the sale of an item from inventory is known when the item is sold.
- gross profit from the sale of an Item from inventory is known when the item is sold.
- cost of goods sold can be calculated by subtracting the ending Inventory amount from the sum of beginning inventory and net purchases.
- a physical inventory must be taken In order to estimate the cost of goods sold.
Choose the correct answer for the below:
When the periodic inventory system is used:
- operating profit from the sale of an item from inventory is known when the item is sold.
- gross profit from the sale of an Item from inventory is known when the item is sold.
- cost of goods sold can be calculated by subtracting the ending Inventory amount from the sum of beginning inventory and net purchases.
- a physical inventory must be taken In order to estimate the cost of goods sold.
papayaprofessorLv10
5 Sep 2022
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Richa AroraLv10
27 Jan 2021
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