Question

Indicate which of the following accounts would be included in the chart of accounts of a merchandising company using either the
(a) Periodic inventory system or
(b) Perpetual inventory system. If the account would be included in the chart of accounts of a company using the periodic and perpetual systems, indicate
(c) For both.
(1) Cost of Merchandise Sold
(2) Purchases Discounts
(3) Sales
(4) Merchandise Inventory
(5) Sales Discounts
(6) Purchases Returns and Allowances
(7) Delivery Expense
(8) Sales Returns and Allowances
(9) Transportation In
(10) Purchases



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  • CreatedJuly 17, 2012
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