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

Which cost elements are included in inventory? What practical problems arise by

including the costs of such elements?

Which accounts that are used under periodic inventory procedure are not used under

perpetual inventory procedure?

What are the main advantages of using FIFO and LIFO?

Which inventory method is the correct one? Can a company change inventory methods?

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

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