Using a perpetual inventory system, how should a company record the sale of inventory costing $570 for $900 on account?

1.	Inventory	570
	Cost of Goods Sold		570
	Sales Revenue	900
	Accounts Receivable		900
2.	Accounts Receivable	900
	Sales Revenue		900
	Cost of Goods Sold	570
	Inventory		570
3.	Inventory	570
	Gain	330
	Sales Revenue		900
4.	Accounts Receivable	900
	Sales Revenues		570
	Gain		330

Multiple Choice

• Option 4

• Option 1

• Option 3

• Option 2