The Entry to Record the Cost of Merchandise Inventory Sold

question 65

Multiple Choice

The entry to record the cost of merchandise inventory sold involves a

• A)debit to Merchandise Inventory and a credit to Sales Revenue.
• B)debit to Cost of Goods Sold and a credit to Merchandise Inventory.
• C)debit to Merchandise Inventory and a credit to Cost of Goods Sold.
• D)debit to Cost of Goods Sold and a credit to Sales Revenue.
• E)debit to Merchandise Inventory and a credit to Accounts Receivable.

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