BAF Merchandising Fill-in-the-Blank

The final inventory figure appears on the balance sheet and on the (a)   .

With a periodic inventory system, the (a)   is not known until it is calculated at the end of the fiscal period.

The COGS figure is calculated using a (a)   .

The value of the COGAS is found by adding two account balances: Inventory and (a)   .

The trial balance created at the end of the year will show the (a)   value of the Inventory account.

In a periodic inventory system, the ending inventory value must be found by physically (a)   the goods that are left at the end of the fiscal period.

Merchandise purchased during the fiscal period is debited to the (a)   account.

The purchases account is a(n) (a)   account.

If merchandise is purchased on account, the account debited is (a)   .

For a merchandising business, the revenue account is usually called (a)   .