Using a perpetual inventory system, how should a company record the sale of inventory costing $$620$ for $$960$ on account?

Event Account Title Debit Credit

$1.$ Inventory $620$

$1.$ Cost of Goods Sold $620$

$1.$ Sales Revenue $960$

$1.$ Accounts Receivable $960$

$2.$ Accounts Receivable $960$

$2.$ Sales Revenue $960$

$2.$ Cost of Goods Sold $620$

$2.$ Inventory $620$

$3.$ Inventory $620$

$3.$ Gain $340$

$3.$ Sales Revenue $960$

$4.$ Accounts Receivable $960$

$4.$ Sales Revenues $620$

$4.$ Gain $340$