Short Answer
Under the periodic inventories approach, an appropriate journal entry to measure closing inventories would be: a. DR Opening irventories (cost of goods sold expense)
CR Irventories (asset)
b. DR Purchases (expense)
CR Irventories (asset)
c. DR Irventories (asset)
CR Closing irventories (cost of goods sold expense)
d. DR Purchases returns (cost of goods sold expense)
CR Irventories (asset)
Correct Answer:

Verified
Correct Answer:
Verified
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