The current period's ending inventory is: Multiple Choice The next period's beginning inventory. The current period's cost of goods sold. The prior period's beginning inventory. The current period's net purchases. The current period's beginning inventory.

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24-05-2022
Business

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The current period's ending inventory is: Multiple Choice The next period's beginning inventory. The current period's cost of goods sold. The prior period's beginning inventory. The current period's net purchases. The current period's beginning inventory.

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ogechukwubenedict ogechukwubenedict · Answer 1 · 2022-06-06T19:39:56+02:00

The current period's ending inventory is the next period's beginning inventory

The accounting period starts when:

At the end of a previous accounting period
When a company begins trading for the first time or after a period of interruption

While ending inventory is the value of the inventory at the end of the accounting period (typically a year or a quarter), the beginning inventory is the inventory at the start of the accounting year.

The formula for calculating ending or beginning inventory by substitution is given as: Beginning inventory + net purchases - COGS = ending inventory.

To learn more about inventories see: https://brainly.com/question/15118949?referrer=searchResults

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