Indicate which of the following accounts would be included in the chart of accounts of a merchandising company using either the

(a) periodic inventory system or

(b) perpetual inventory system. If the account would be included in the chart of accounts of a company using the periodic and perpetual systems, indicate

(c) for both.

(1) Cost of Merchandise Sold

(6) Purchases Returns and Allowances

(2) Purchases Discounts

(7) Delivery Expense

(3) Sales

(8) Sales Returns and Allowances

(4) Merchandise Inventory

(9) Transportation In

(5) Sales Discounts

(10) Purchases obj. 3