Middleton Company uses the perpetual inventory method. The company purchased an item of inventory for $130 and
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Middleton Company uses the perpetual inventory method. The company purchased an item of inventory for $130 and sold the item to a customer for $200.
What effect will the sale have on the company's Cost of Goods Sold account?
A. The account will increase by $200.
B. The account will increase by $130.
C. The account will increase by $70.
D. No effect.
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