Under the Perpetual Inventory System, in Addition to Making the Entry

question 123

Multiple Choice

Under the perpetual inventory system, in addition to making the entry to record the sale, the seller would

• A)debit Merchandise Inventory and credit Cost of Goods Sold.
• B)debit Cost of Goods Sold and credit Purchases.
• C)debit Cost of Goods Sold and credit Merchandise Inventory.
• D)make no additional entry until the end of the period.

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