When Using a Periodic Inventory Method, What Account Is Increased

question 120

Multiple Choice

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

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

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Definitions:

Asymmetric Carbons

Carbon atoms bonded to four different groups, leading to chirality or "handedness" in molecules, essential in stereochemistry.

α-D-Ribopyranose

An aldopentose sugar in the pyranose form where the α-configuration at the anomeric carbon is specific to the D-ribose structure.

Ordinal Data

A type of categorical statistical data type in which the order of the values is significant but the difference between each one is not necessarily uniform.

Nominal Data

Nominal data represents categories that cannot be logically ordered or ranked, where each category is mutually exclusive and there is no inherent arithmetic relationship among them.