The Closing Entry to Close Beginning Inventory Using the Periodic $\quad$

Multiple Choice

The closing entry to close beginning inventory using the periodic method is:

A) DR Purchases $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ CR Inventory
B) DR Profit and loss summary $\quad$$\quad$ CR Inventory
C) DR Inventory $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ CR Profit and loss summary
D) DR Cost of goods sold $\quad$$\quad$$\quad$$\quad$ CR Inventory