The Journal Entry to Remove the Beginning Inventory Under the Periodic

question 71

Multiple Choice

The journal entry to remove the beginning inventory under the periodic inventory system is:

• A)debit Purchases and credit Cost of Goods Sold.
• B)debit Purchases and credit Inventory.
• C)debit Inventory and credit Cost of Goods Sold.
• D)debit Cost of Goods Sold and credit Inventory.

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Definitions:

Independent Variable

A variable in an experiment that is manipulated to observe its effect on a dependent variable.

Continuous

Refers to data or a variable that can take on any value within a given range and is not restricted to specific separated values.

Scatterplot

A graphical representation of the relationship between two variables, showing how one variable is affected by the other.

Strength

Often used in the context of correlation, indicating the degree of association between two variables.