If a company uses a periodic inventory system, it will maintain all of the following accounts except:

Name: If a company uses a periodic inventory system, it will maintain all of the following accounts except:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

In a periodic inventory system, the Cost of Goods Sold (COGS) is calculated at the end of the accounting period, not recorded with each sale. Therefore, there isn't a continuous update to the COGS account throughout the period.

If a Company Uses a Periodic Inventory System, It Will