Describe how the cost of goods sold is calculated when using the periodic inventory system.
What will be an ideal response?
Answer: The Cost of Goods Sold account is calculated by adding Beginning Merchandise Inventory plus Net Cost of Purchases less Ending Inventory. Net Cost of Purchases is calculated by taking Purchases less Purchase Returns and Allowances less Purchase Discounts plus Freight In.
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______ is the use of tools and processes to protect organizational computer systems and networks.
A. Ergonomics B. Workplace security C. Workplace safety D. Cybersecurity
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Indicate whether the statement is true or false.
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