A client uses a periodic inventory system.Would one expect a credit to which of the following accounts at the point of sale? $$\begin{array} { l c c }
& \text { Sales } & \text { Inventory } \
\text { A) } & \text { Yes } & \text { Yes } \
\text { B) } & \text { Yes } & \text { No } \
\text { C) } & \text { No } & \text { Yes } \
\text { D) } & \text { No } & \text { No }
\end{array}$$

Question

A client uses a periodic inventory system.Would one expect a credit to which of the following accounts at the point of sale? $$\begin{array} { l c c } 
& \text { Sales } & \text { Inventory } \
\text { A) } & \text { Yes } & \text { Yes } \
\text { B) } & \text { Yes } & \text { No } \
\text { C) } & \text { No } & \text { Yes } \
\text { D) } & \text { No } & \text { No }
\end{array}$$

Quizplus · Accepted Answer

In a periodic inventory system, sales are recorded with a credit to the Sales account, but Inventory is not adjusted at the point of sale. Inventory is updated at the end of the period.

A Client Uses a Periodic Inventory System A)Option a B)Option B C)Option C D)Option D

A Client Uses a Periodic Inventory System A)Option a
B)Option B
C)Option C
D)Option D