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Question

20)the inventory method that will always produce the same amount for cost of goods sold in a periodic inventory system as in a perpetual inventory system would be:

Answer

FIFO (First-In, First-Out)

  • Q: What is the periodic inventory system? A: Periodic inventory system is a method of inventory valuation in which the balance in the purchases account is periodically reduced to zero.
  • Q: What is the perpetual inventory system? A: Perpetual inventory system is an inventory management system that maintains a continuous record of inventory transactions.
  • Q: What is the inventory method that will always produce the same amount for cost of goods sold in a periodic inventory system as in a perpetual inventory system? A: The FIFO (First-In, First-Out) inventory method.