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

question 114

Multiple Choice

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

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