Question: When using the perpetual inventory system, in addition to making the entry to record Sales Revenue, a company will Select one: a. debit Merchandise Inventory

When using the perpetual inventory system, in addition to making the entry to record Sales Revenue, a company will

Select one:

a.

debit Merchandise Inventory and credit Cost of Goods Sold.

b.

debit Cost of Goods Sold and credit Purchases.

c.

debit Cost of Goods sold and credit Merchandise Inventory.

d.

make no additional entry until the end of the period.

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