Explain why, when a company uses FIFO with a periodic inventory system, the cost of goods sold

Question:

Explain why, when a company uses FIFO with a periodic inventory system, the cost of goods sold and ending inventory costs are the same as they would be had FIFO been used with a perpetual system.

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...