Using this inventory method the Merchandise Inventory account is adjusted only at the end of the fiscal period and the adjustment is based on a physical inventory.
A) Periodic Inventory
B) Perpetual Inventory
C) Inventory Shrinkage
D) Inventory Adjustment

Question

Quizplus · Accepted Answer

The periodic inventory method adjusts the Merchandise Inventory account only at the end of the fiscal period and based on a physical inventory count.

Using This Inventory Method the Merchandise Inventory Account Is Adjusted