Under the Perpetual Inventory System the Entry to Record the Cost

question 8

Multiple Choice

Under the perpetual inventory system the entry to record the cost price of goods sold on credit is:

• A)Debit Inventory,credit Cost of sales
• B)Debit Cost of sales,credit Inventory,credit GST Outlays
• C)Debit Cost of sales,credit Inventory
• D)Debit Cost of sales,credit Purchases