In a periodic system,the only account in regard to inventory that is kept up-to-date is the inventory account.

Name: In a periodic system,the only account in regard to inventory that is kept up-to-date is the inventory account.
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In a periodic system, the only account that is kept up-to-date with each transaction is the purchases account, whereas the inventory account is only updated at the end of the accounting period through physical counting and valuation.

In a Periodic System,the Only Account in Regard to Inventory