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:

Shift Left

In software development, the practice of integrating and addressing quality and testing earlier in the development process.

Demand

The total quantity of a good or service that consumers are willing and able to purchase at various prices.

Chipotle

An international chain of fast-casual restaurants specializing in tacos and Mission-style burritos.

Inferior Good

Goods whose demand declines as consumer income rises, distinct from normal goods where demand increases with higher income.