When Using the Periodic Inventory Method, Which of the Following

question 59

Multiple Choice

When using the periodic inventory method, which of the following generally would not be separately accounted for in the computation of cost of goods sold?

• A) Trade discounts applicable to purchases during the period
• B) Cash (purchase) discounts taken during the period
• C) Purchase returns and allowances of merchandise during the period
• D) Cost of transportation-in for merchandise purchases during the period

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Definitions:

Genome

The complete set of genes or genetic material present in a cell or organism.

Codominance

A genetic scenario where two alleles of a gene pair in a heterozygote are fully expressed, resulting in offspring with a phenotype that is neither dominant nor recessive.

Allele

Alternative form of a gene; a gene pair contains two alleles.

Dominant Gene

A gene that expresses its phenotype over another gene (the recessive gene) when the two are present in a heterozygous condition.