ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The use of periodic counting system for counting inventory determines when orders should be placed.
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True
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False
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -Answer and Explanation: It is true that with a periodic inventory method, it is necessary to conduct a physical count of inventory to determine the cost of goods sold.
Detailed explanation-2: -Under the periodic inventory system, all purchases made between physical inventory counts are recorded in a purchases account.
There is 1 question to complete.