Answered

Select all that apply.

Name the temporary accounts used to record the costs of merchandise purchased in a periodic inventory system.

- Purchase returns and allowances
- Purchases
- Purchase discounts
- Transportation-in
- Cost of goods sold
- Merchandise inventory
- Damaged purchases



Answer :

GinnyAnswer

Final answer:

The temporary accounts used to record the costs of merchandise purchased in a periodic inventory system include Cost of goods sold, Purchases, and Purchase discounts.


Explanation:

Cost of goods sold, Purchases, and Purchase discounts are the temporary accounts used to record the costs of merchandise purchased in a periodic inventory system. These accounts help track the expenses related to purchasing inventory and any discounts or returns involved.


Learn more about Merchandise Purchases and Inventory here:

https://brainly.com/question/48546144


Other Questions