Answer added by Shameer Nazir Madari, Assistant Finance Manager , METAL and RECYCLING firm K.S.C. (PUBLIC)4 years ago
a) providers determine expense of goods sold only at the end of the accounting period.
You are watching: Which of the following statements about a periodic inventory system is true?
Statement a) is True
Disadvantage that the regular inventory device is that the specific amount of perform shortage can not be determined. The quantity is buried in expense of items sold.
The routine inventory system is most helpful for smaller businesses that keep minimal amounts of inventory(A)
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