Question: In a periodic inventory system, the formula used in computing the cost of goods sold is determined at the end of the accounting period using

In a periodic inventory system, the formula used in computing the cost of goods sold is determined at the end of the accounting period using the formula:
Multiple Choice
Beginning inventory + purchases - ending inventory.
Beginning inventory + purchases - net sales.
Ending inventory + purchases - net sales.
Balance in the Cost of Goods Sold account, less the balance in the Inventory Shrinkage account.
In a periodic inventory system, the formula used

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