Question: Using a perpetual Inventory system, how should a company record the sale of Inventory costing $490 for $1.050 on account? 490 490 1,050 1,050 1,85e

Using a perpetual Inventory system, how should a company record the sale of Inventory costing $490 for $1.050 on account? 490 490 1,050 1,050 1,85e 1,05 1. Inventory Cost of Goods Sold Sales Revenue Accounts Receivable 2. Accounts Receivable Sales Revenue cost of Goods Sold Inventory 3. Inventory Gain Sales Revenue 4. Accounts Receivable Sales Revenues Gain 490 490 490 560 1, ese 1,050 490 560 w Multiple Choice Option 3 Option 2 Option

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