Which of the following accounts will not be found in the cost of merchandise sold section of the income statement for a company using the periodic inventory method?
A) Purchases
B) Freight In
C) Selling Expense
D) Merchandise Inventory

Question

Quizplus · Accepted Answer

Selling Expense is a separate expense account that is not included in the cost of merchandise sold section. The other options are all directly related to the cost of merchandise sold and would be included in that section of the income statement.

Which of the Following Accounts Will Not Be Found in the Cost