Under the Perpetual Inventory System, What Is the Entry to Record

question 42

Multiple Choice

Under the perpetual inventory system, what is the entry to record the cost price of goods sold for cash?

• A) DR Cost of sales, CR Inventory, CR GST receivable
• B) DR Inventory, CR Cost of sales
• C) DR Cost of sales, CR Inventory
• D) DR Cost of sales, CR Purchases

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