Question

Under the periodic inventory system, the merchandise inventory account balance is the

Answer 1

d. Most recent physical inventory

Explanation:

Multiple choice "a.) most recent inventory sale, b.) most recent computer update, c.) most recent inventory purchase, d.) most recent physical inventory'

Under the periodic inventory system, the merchandise inventory account balance is the most recent physical inventory. in periodic Inventory system, the merchandise inventory is updated at the end of accounting period when physical inventory is taking up (usually at certain interval) and all transaction are recorded at the end.