Answer added by Shameer Nazir Madari, Assistant Finance Manager , METAL AND RECYCLING COMPANY K.S.C. (PUBLIC)4 years ago
Answer is
a) Companies determine cost 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 of the periodic inventory system is that the exact amount of inventory shortage cannot be determined. The amount is buried in cost of goods sold.
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The periodic inventory system is most useful for smaller businesses that maintain minimal amounts of inventory(A)
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