Nelect all that apply Name temporary accounts used to record the costs of merchandise purchased in a periodic inventory system. (Check all that apply) \( \square \) Mransportation-in Purchase discounts Purchase returns and allowances Purchases Cost of goods sold Damaged purchases

In a periodic inventory system, the cost of merchandise purchased is recorded using several temporary accounts. Notably, "Purchases" is the primary account where the costs are initially logged. Additionally, "Transportation-in" is integral as it includes freight charges necessary to bring goods to the business, enhancing the total cost of acquisitions. When dealing with inventory adjustments, "Purchase returns and allowances" are vital as they account for returns of damaged or unsatisfactory merchandise, while "Purchase discounts" records reductions in purchase costs due to early payment or bulk purchasing, making it more wallet-friendly!