Guys, I really don't quite get how the balance sheet will look with a periodic layout... the one in which purchases will appear... please help:confused:

Since when do Purchases appear on a balance sheet?

Lol, sorry guys... I meant the income statement... It was a very late night... I apologise

Purchases tend not to be shown on any income statement.

You just show the COGS figure (which comprises the Purchases figures, plus other numbers).

If you wanted to show it, I guess you could.