Testbank, Question 94 In a periodic inventory system, the cost of goods sold is determined at the beginning of the accounting period. after each sale. after each purchase. at the end of the accounting period. Testbank, Question 96 Investing activities include obtaining capital from investors. collecting the principal on loans receivable. repayment of debts. obtaining cash from creditors. Testbank, Question 135 Research costs are classified as intangible assets. must be expensed when incurred. are capitalized and then amortized over their estimated useful life. should be included in the cost of the asset they relate to. Ques