If inventory is taken only at the end of each accounting period, the average inventory for the period can be calculated by adding the beginning and the ending inventories and dividing their sum by two

When using the periodic inventory system, the process of recording the ending Merchandise Inventory is completed by making an adjusting entry

Indicate whether the statement is true or false

Which of the following is an external source for ideas?

A) project managers B) engineers C) salespeople D) manufacturing staff E) suppliers