Multiple Choice
Which of the following statements is true under the periodic inventory method?
A) Freight-In is subtracted from purchases in order to derive net purchases
B) Freight-In is added to purchases in order to derive net purchases
C) Freight-In is used only with the perpetual inventory method, not with the periodic inventory method
D) Freight-In is neither subtracted nor added to purchases in order to derive net purchases
Correct Answer:
Verified
Correct Answer:
Verified
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