Question: When purchasing inventory on account in a perpetual inventory system, which of the following is TRUE? O A. GAAP does not allow inventory to be
When purchasing inventory on account in a perpetual inventory system, which of the following is TRUE? O A. GAAP does not allow inventory to be purchased on account O B. The average costing method requires a credit to inventory O C. The journal entry would be exactly the same fo all inventory costing methods. :D O D. LIFO and FIFO inventory valuation methods require a debit to inventory while all others require a debit to purchases
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