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2 years ago

In a periodic inventory system, cost of goods sold is not recorded as each sale occurs. Group startsTrue or False

1 answer:

6 0

In a periodic inventory system, the cost of goods sold is not recorded as each sale that occurs is a true statement.

<h3>Periodic Inventory System</h3>

A physical count of the inventory is conducted at predetermined intervals as part of the periodic inventory system, a technique of inventory valuation for financial reporting reasons.
In order to calculate the cost of goods sold, this accounting method starts with an inventory at the beginning of the period, adds fresh inventory purchases throughout the period, and subtracts ending inventory.
A corporation using the periodic inventory system won't be aware of its unit inventory levels or COGS until the physical count process is finished.
For a company with a small number of SKUs operating in a sluggish market, this method might be suitable, but for all other companies, the perpetual inventory system is preferred.

Hence, the given statement is true.

To learn more about Periodic Inventory System refer to:

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Help me and I will give you 30 Brainliest if your answer is correct.

kotegsom [21]

Answer:

She could work as a trash person, taking garbage out and destroying it. She could work as a chef, cooking food for hungry people. She could be a homeless shelter worker, and help people find homes.

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2 years ago

Explain why it is worthwhile to keep a theater open during the afternoon, at a time when there are fewer customers than in the e

Naily [24]

A thearter is kept open for an advertisement to allow people to view or have an idea of the movies to be shown in the evening.

<h3>What is a business strategy?</h3>

Business strategy is a list of actions and decisions made by a company or organization to reach its goals and objectives.

Opening theater in the afternoon is a business strategy and it is an approach to create awareness of what their programs will be.

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2 years ago

A fire destroyed some of Powell Company's records. Information from the documents found related to inventory is listed below. En

andrey2020 [161]

Answer:

$478,000

Explanation:

Purchase inventory = cost of goods sold + ending inventory - beginning inventory

Purchase = (445,000 + 76,000) - 43,000 = $478,000

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3 years ago

Read 2 more answers

Suppose the real risk-free rate is 2.50% and the future rate of inflation is expected to be constant at 4.10%. What rate of retu

Yakvenalex [24]

Answer: 6.6%

Explanation:

The Pure Expectations Theory believes that the future long term rate is a reflection of future short term rates.

In terms of a 5 Treasury Security then, the rate of return to be expected is the risk free rate adjusted for inflation.

The Treasury Security has no risk but for inflation risk hence this is all that should be catered for.

Rate of Return on 5 year Treasury Security = Real Risk Free Rate + Inflation Rate

= 2.5% + 4.1%

= 6.6%

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3 years ago

Are leadership and management the same thing?

Fiesta28 [93]

No I think that in order to be a management you have to be a leader. If your a manager then your leading your employees if your not a leader you can’t properly do the manager job.

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2 years ago