In a Periodic Inventory System, the Cost of Purchases Is

question 151

Multiple Choice

In a periodic inventory system, the cost of purchases is recognized as

• A)an integral part of the calculation of cost of goods sold.
• B)the only part of the calculation of cost of goods sold.
• C)an increase in the inventory account.
• D)an increase in an asset account.

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Definitions:

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Divorce Law

The body of law dealing with the dissolution of marriage, including the division of assets, custody of children, and alimony.

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