How is cost of goods sold determined

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Reference no: EM131261044

1. How is cost of goods sold determined?

2. How do the perpetual and periodic inventory accounting systems differ from each other?

3. Why are perpetual inventory systems more expensive to operate than periodic inventory systems? What conditions justify the additional cost of a perpetual inventory system?

4. Why are adjustments made to the invoice price of goods when determining the cost of inventory?

Reference no: EM131261044

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