When using a periodic inventory system,the Merchandise Inventory account will never be used when recording purchases,purchase discounts,purchase returns,or sales of inventory.

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In a periodic inventory system, purchases, purchase discounts, and purchase returns are recorded in separate accounts (such as Purchases, Purchase Discounts, and Purchase Returns and Allowances) rather than directly affecting the Merchandise Inventory account at the time of each transaction. The Merchandise Inventory account is updated only at the end of the accounting period, when a physical inventory count is conducted to determine the cost of goods sold and the ending inventory balance.

When Using a Periodic Inventory System,the Merchandise Inventory Account Will