When Using a Periodic Inventory Method,what Account Is Increased When

question 36

Multiple Choice

When using a periodic inventory method,what account is increased when you buy merchandise inventory?

• A)Cost of Goods Sold
• B)Beginning Inventory
• C)Supplies
• D)Purchases

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Definitions:

John Rawls

A philosopher known for his contributions to political and moral philosophy, especially in his theory of justice as fairness.

Economically Fair Society

A concept where wealth and resources are distributed evenly or equitably among all members of a society, aiming for fairness in economic conditions.

High-Income Household

A home or family unit that earns a significantly higher income than the average for their area or country, often placing them in the top income brackets.

Marginal Dollar

This refers to the additional or next dollar of income or expense in financial analysis.