Using a perpetual inventory system, how should a company record the sale of inventory costing $410 for $930 on account?

1.	Inventory	410
	Cost of Goods Sold		410
	Sales Revenue	930
	Accounts Receivable		930
2.	Accounts Receivable	930
	Sales Revenue		930
	Cost of Goods Sold	410
	Inventory		410
3.	Inventory	410
	Gain	520
	Sales Revenue		930
4.	Accounts Receivable	930
	Sales Revenues		410
	Gain		520

Multiple Choice

• Option 3

• Option 1

• Option 2

• Option 4