Why are ending inventory and cost of goods sold the same under FIFO perpetual and FIFO periodic?

Question:

Why are ending inventory and cost of goods sold the same under FIFO perpetual and FIFO periodic? pg25

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Accounting A Business Perspective

ISBN: 9780075615859

7th Edition

Authors: Roger H. Hermanson, James Don Edwards, Michael W. Maher

Question Posted: