Question: Identify the correct statements about a periodic inventory system. Multiple select question. The cost of inventory on hand is determined after a physical inventory is

Identify the correct statements about a periodic inventory system.
Multiple select question.
The cost of inventory on hand is determined after a physical inventory is completed.
Inventory on hand is typically counted at the end of each fiscal year.
Inventory on hand must be counted physically to determine cost of goods sold.
More data processing is required than in a perpetual inventory system.

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