12. The periodic system does not track cost of goods sold during the period, so Cost of goods sold must be computed at the end of the period once the physical inventory count is complete. True or False

13. Weighted average can be used for inventory valuation when an entity builds townhouses. True or False?

14. Specific identification inventory valuation method tracks the cost of each individual item and records the item in cost of goods sold or inventory depending on whether that item was sold. True or False?