Question: When using a periodic inventory system, which statement concerning the computation of cost of goods sold is correct? O The amount of ending inventory

When using a periodic inventory system, which statement concerning the computation of cost of goods sold is correct? O The amount of ending inventory is determined on the last day of the accounting period. O Freight-in is ignored. Cost of Goods Available for Sale includes net purchases plus the ending inventory. Purchases represent cash paid for purchases during the accounting period.

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