Under the periodic inventory system, which of the following amounts will always stay the same irrespective of the inventory valuation method used?

Question

Quizplus · Accepted Answer

Under the periodic inventory system, the purchases made during the period are recorded in a separate account called "Purchases." The amount in this account will always remain the same irrespective of the inventory valuation method used because it represents the actual amount spent on acquiring the inventory. On the other hand, the ending merchandise inventory, cost of goods sold, and gross profit will vary depending on the inventory valuation method used.

Under the Periodic Inventory System, Which of the Following Amounts