When Using the Periodic Inventory System,the Merchandise Inventory Account Is

question 79

Multiple Choice

When using the periodic inventory system,the Merchandise Inventory account is ________.

• A) not used
• B) never used when recording purchase discounts, or returns of inventory
• C) replaced on the balance sheet with the Purchases account
• D) updated after each sale

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Definitions:

Separator Pads

Components used in machinery or devices to divide or separate items or parts for processing, organization, or safety reasons.

Pickup Rollers

Rubber or synthetic rollers within a printer or scanner that are responsible for grabbing and feeding paper into the device.

Blu-ray

A type of optical disc technology that uses a blue laser instead of a red laser (like the kind used in CD/DVD drives) to achieve higher disc capacities.

IMEI

International Mobile Equipment Identity, a unique code used to identify mobile phones and certain other devices.