When Using a Periodic Inventory Method,what Account Is Increased When

question 59

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)Ending Inventory
• D)Purchases

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Definitions:

Sushi

A traditional Japanese dish made of vinegared rice, often accompanied by various ingredients such as seafood, vegetables, and occasionally tropical fruits.

Equilibrium

The state in a market where supply equals demand, and there is no external pressure for the market price or quantity to change.

Quantity Demanded

Refers to the total amount of a good or service that consumers are willing and able to purchase at a given price in a given period.

Quantity Supplied

The total amount of a good or service that producers are willing to sell at a given price over a specific period.