As a Result of Taking an Annual Physical Inventory,it Usually

question 75

Multiple Choice

As a result of taking an annual physical inventory,it usually is necessary in a perpetual inventory system to make an entry:

• A)Reducing assets and increasing the cost of goods sold.
• B)Reducing assets and increasing liabilities.
• C)Reducing the cost of goods sold.
• D)Increasing assets and increasing the cost of goods sold.