If a company uses the periodic inventory system, it determines the FIFO or LIFO cost of ending inventory rather than the cost of goods sold Why ...

When using the periodic inventory system purchases purchases returns and allowances fre ...

If a company uses the periodic inventory system, it determines the FIFO or LIFO cost of ending

Question:

If a company uses the periodic inventory system, it determines the FIFO or LIFO cost of rather than the cost of goods sold. Why?
Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...