Accounting · Inventory Management
Under a perpetual inventory system, when merchandise/inventory is sold to a customer, which account is debited to record the expense of the inventory sold?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Supply Expenses Account
- 2Inventory Account
- 3Cost of Goods Sold Account✓
- 4Sales Revenue Account
Correct answer
Cost of Goods Sold Account
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