The Periodic Method of Merchandise Accounting

Part II: The Worksheet

By Jeff Boulton


1. Lesson
2. Practice Exercise














Changes on the Worksheet for a Periodic Merchandise Business

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By now you should be familiar with the worksheet. You should know how to complete the worksheet with or without adjustments, and use it to prepare financial statements.

In this lesson we will explore what differs between a service business, and a periodic merchandise business on the worksheet. Click 'Next' below to begin.


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Practice Exercise

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Complete the worksheet and and find the value of Cost of Goods Sold. NOTE: There are no adjustments in this exercise.


Worksheet 1




Worksheet 1 - Answer