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

 

Because can we record the Cost of good sold and inventory for the sales before recording the account receivable and the sales revenue?

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Inventory 620 Cost of Goods Sold 620 Sales Revenue 960 Accounts Receivable 960 b. Accounts Receivable 960 Sales Revenue 960 Cost of Goods Sold 620 Inventory 620 Accounts Receivable 960 Sales Revenue 960 960 Inventory Cost of goods sold 960 None of the responses are correct. d. Inventory 620 Cost of Goods Sold 620 Sales Revenue 960 Accounts Receivable 960 b. Accounts Receivable 960 Sales Revenue 960 Cost of Goods Sold 620 Inventory 620 Accounts Receivable 960 Sales Revenue 960 960 Inventory Cost of goods sold 960 None of the responses are correct. d.

Answer rating: 100% (QA)

Solution Option C is correct Explanation Under perpetual inventory system there will be no pur... View the full answer