With a periodic inventory method,purchases,purchase discounts,and purchase returns and allowances are recorded in separate accounts.

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With periodic inventory method, purchases, purchase discounts, and purchase returns and allowances are not recorded in the inventory account directly. Instead, they are recorded in separate accounts to facilitate the calculation of cost of goods sold at the end of the accounting period.

With a Periodic Inventory Method,purchases,purchase Discounts,and Purchase Returns and Allowances