When Using a Perpetual Inventory System, a Business Will Debit

question 77

True/False

When using a perpetual inventory system, a business will debit Merchandise Inventory and credit Cost of Goods Sold each time a sale is recorded.

---

Definitions:

Amazon Fire

A line of digital media players and microconsoles developed by Amazon, designed for streaming digital content such as movies, TV shows, and music.

Input Devices

Hardware devices used to send data to a computer, allowing the user to interact with and control it; examples include keyboards, mice, and scanners.

Keyboard

A hardware device used to enter typed data and commands into a computer.

Touch Screen

A type of monitor (or display in a smartphone or tablet computer) that accepts input from a user touching the screen.