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Anarel [89]
3 years ago
14

Under a periodic inventory system:____________.

Business
1 answer:
anyanavicka [17]3 years ago
7 0

Answer:

1. accounting records continuously disclose the amount of inventory.

Explanation:

The periodic inventory system is the accounting method of calculating the value of inventory at the end of a specified period of time. Under this system, updates are made on a periodic basis rather than after every sale or purchase of inventory. It continuously tracks the record of inventory by physically counting the inventory and the cost of inventory is calculated by using the inventory calculation method, such as FIFO, LIFO, and weighted averages.

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