Asked on 30 Mar 2020

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

Answered on 30 Mar 2020

Unlock this answer

Get 1 free homework help answers
Access 3.7 million verified answers.
Get access
Already have an account? Log in