When a company uses a periodic inventory system, the year-end entry to adjust the inventory account will debit and credit inventory as follows:

$\underline{\text{ Beginning inventory Amount}}$ $~~~~~~~~$ $\underline{\text{ Ending Inventory Amount }}$
A) Debited $~~~~~~~~~~~~~~ ~$$~~~~~~~~$ Credited
B) Debited$~~~~~~~~~~~~~~~~~$$~~~~~~~~$ Debited
C) Credited $~~~~~~~~$ $~~~~~~~~~~~~~~ ~$ Debited
D) Credited$~~~~~~~~$$~~~~~~~~~~~~~~~~~$Credited

Question

When a company uses a periodic inventory system, the year-end entry to adjust the inventory account will debit and credit inventory as follows:

$\underline{\text{  Beginning inventory Amount}}$   $~~~~~~~~$ $\underline{\text{ Ending Inventory Amount   }}$  
A)  Debited  $~~~~~~~~~~~~~~ ~$$~~~~~~~~$ Credited  
B) Debited$~~~~~~~~~~~~~~~~~$$~~~~~~~~$ Debited  
C) Credited $~~~~~~~~$ $~~~~~~~~~~~~~~ ~$ Debited 
D) Credited$~~~~~~~~$$~~~~~~~~~~~~~~~~~$Credited

Quizplus · Accepted Answer

The Answer of When a company uses a periodic inventory system, the year-end entry to adjust the inventory account will debit and credit inventory as follows:

$\underline{\text{  Beginning inventory Amount}}$   $~~~~~~~~$ $\underline{\text{ Ending Inventory Amount   }}$  
A)  Debited  $~~~~~~~~~~~~~~ ~$$~~~~~~~~$ Credited  
B) Debited$~~~~~~~~~~~~~~~~~$$~~~~~~~~$ Debited  
C) Credited $~~~~~~~~$ $~~~~~~~~~~~~~~ ~$ Debited 
D) Credited$~~~~~~~~$$~~~~~~~~~~~~~~~~~$Credited

When a Company Uses a Periodic Inventory System, the Year-End Beginning inventory Amount‾\underline{\text{ Beginning inventory Amount}} Beginning inventory Amount​

When a Company Uses a Periodic Inventory System, the Year-End $\underline{\text{ Beginning inventory Amount}}$