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:

Central Nervous System

The primary command center for the nervous system, consisting of the brain and spinal cord, responsible for processing and sending out instructions.

Hypothalamus

A region of the brain responsible for hormone production and regulation, influencing many critical bodily functions including temperature and hunger.

Fluid

In the context of biology or health, it refers to liquids within the body that play vital roles in its functioning, such as blood, lymph, and interstitial fluids.

Calories

Units of energy that food provides, essential for human beings to conduct daily activities and maintain bodily functions.