The inventory system that makes an adjustment to the Merchandise Inventory account only when an actual physical inventory is taken
A) Physical Inventory Method
B) Periodic Inventory System
C) Perpetual Inventory System
D) Count of Stock Method

Question

Quizplus · Accepted Answer

The Periodic Inventory System adjusts the Merchandise Inventory account only at the end of the accounting period based on a physical inventory count.

The Inventory System That Makes an Adjustment to the Merchandise