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:

Market Share

The portion of a market controlled by a particular company or product.

Advertising Campaign

A series of advertisement messages that share a single idea and theme aimed at a particular target audience within a specified timeframe.

Appliance Stores

Retail outlets specializing in the sale of electrical or mechanical devices used in homes.

Microwaves

Electromagnetic waves with frequencies ranging from 300 MHz to 300 GHz, widely used in telecommunications, radar, and kitchen appliances for heating food.