In the periodic inventory system, the inventory account is debited for the purchases made during the year.

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In the periodic inventory system, the inventory account is not debited for each purchase throughout the year. Instead, purchases are recorded in a purchases account and the cost of goods sold is only calculated at the end of the accounting period through a physical count of inventory. The inventory account is adjusted based on that final calculation.

In the Periodic Inventory System, the Inventory Account Is Debited