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1. The final inventory figure appears on the and on the .... ..... .... 2. Neither the ............ ... nor the ......... .........is known during

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1. The final inventory figure appears on the and on the .... ..... .... 2. Neither the ............ ... nor the ......... .........is known during the accounting period. 3. Merchandise inventory is kept in two accounts. These are............... and 4. The ...... .normally shows the merchandise inventory figure as of the............. 5. At the fiscal year-end, the inventory is counted and valued at............... 6. The Merchandise Inventory account is adjusted ......... 7. The ....................is the only accounting entry made to the Merchandise Inventory account. 8. Merchandise purchased during the fiscal period is debited to the.................. 9. If merchandise is purchased on account, the account debited is.......... 10. When a business using the periodic inventory system sells goods, there is no accounting entry to record the

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