In a Periodic Inventory System,the Cost of Purchases Is Recognized

question 141

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:

Bran Diet

A diet high in bran fiber, often recommended to improve digestive health and prevent constipation.

Nasogastric Tube

A flexible tube that is inserted through the nose and extends to the stomach for feeding or removing stomach contents.

Swallows

The act of causing or allowing something (typically food or liquid) to pass from the mouth down through the esophagus to the stomach.

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A position where the head is tilted or bent forward.