Perpetual or periodic inventory system


Which of the following inventory costing methods will always result in the same values for ending inventory and cost of goods sold regardless of whether a perpetual or periodic inventory system is used?

a. FIFO and LIFO

b. LIFO and weighted-average cost

c. Specific identification and FIFO

d. FIFO and weighted-average cost

e. LIFO and specific identification

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Accounting Basics: Perpetual or periodic inventory system
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