Question: In a periodic inventory system, the formula used in computing the cost of goods sold may be summarized as follows: Select one: A. Beginning inventory

In a periodic inventory system, the formula used in computing the cost of goods sold may be summarized as follows:

Select one:

A.

Beginning inventory + purchases - net sales.

B.

Balance in the Cost of Goods Sold account, less the balance in the Inventory Shrinkage account.

C.

Beginning inventory + purchases - ending inventory.

D.

Ending inventory + purchases - net sales.

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