Question: Select all that apply When the perpetual inventory system is used, what are the financial statement effects of a sale of iniventory on account? (

Select all that apply
When the perpetual inventory system is used, what are the financial statement effects of a sale of iniventory on account? (Assume that the sales price is higher
than the cost of inventory.)
total assets decrease
stockholders' equity increases
stockholders' equity decreases
total assets increase
net income increases
Select all that apply When the perpetual inventory system is used,

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