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ABC analysis divides an organization's on-hand inventory into three classes based upon
A) annual demand
B) the number of units on hand
C) unit price
D) annual dollar volume
When using a perpetual inventory system, the journal entry to record the cost of goods sold is:
A. Credit to Cost of Goods Sold
B. Credit to Accounts Payable
C. Credit to Purchase Returns
D. Credit to Inventory
