The Periodic Inventory System Operates By

Multiple Choice

The periodic inventory system operates by:

A) keeping track of inventory as it comes into the organisation and as it leaves.
B) counting inventory at regular intervals to establish how much of each item is on hand.
C) assuming that the inventory that came in first is the first to be sold.
D) tracking the cost of specific items of inventory to the products sold by grouping items according to cost drivers.