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NEW QUESTION: 1

A. Option A
B. Option C
C. Option B
D. Option D
Answer: C

NEW QUESTION: 2
Calculating COGS under a periodic inventory system relies on which of the following?
A. neither of these answers is correct
B. an analysis of the inventory value of each sale
C. both of these answers are correct
D. a physical count of the ending inventory
Answer: D
Explanation:
Explanation/Reference:
Explanation:
Under the periodic inventory system, only the ending inventory is counted and priced. Cost of goods sold is determined by deducting the cost of the ending inventory from the cost of goods available for sale.

NEW QUESTION: 3

A. Option C
B. Option A
C. Option B
D. Option E
E. Option D
F. Option F
Answer: A,C

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