Using the Periodic System of Inventory

Multiple Choice

Using the periodic system of inventory:

A) Gives the same results as a perpetual system when FIFO is applied but without some of the extra detail.
B) Is much more cost effective as a perpetual system requires a computer.
C) Does not require a stock take each year and is therefore more accurate.
D) Accurately reports all stock movements which assists with decision-making.
E) All of the given answers.