With the perpetual inventory system, which of the following entries would be made when inventory costing $3,600 is sold for $5,000? Oa. Purchases 5,000 Accounts Receivable 5,000 Ob. Cost of Goods Sold 3,600 Inventory 3,600 Oc. Inventory 3,600 Cost of Goods Sold 5,000 Accounts Payable 3,600 Purchases 5,000 Od. Inventory 5,000 Accounts Payable 5,000

With the perpetual inventory system, which of the following entries would be made when inventory costing $3,600 is sold for $5,000? Oa. Purchases 5,000 Accounts Receivable 5,000 Ob. Cost of Goods Sold 3,600 Inventory 3,600 Oc. Inventory 3,600 Cost of Goods Sold 5,000 Accounts Payable 3,600 Purchases 5,000 Od. Inventory 5,000 Accounts Payable 5,000

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter11: Work Sheet And Adjusting Entries

Section: Chapter Questions

Problem 3E: Basga Company uses the periodic inventory system. Beginning inventory amounted to 241,072. A...

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