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28 March, 11:17

In a perpetual inventory system, the cost of inventory sold is: a. Debited to cost of goods sold. b. Not recorded at the time goods are sold. c. Credited to cost of goods sold. d. Debited to accounts receivable.

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  1. 28 March, 12:06
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    Answer: The correct answer is "a. Debited to cost of goods sold."

    Explanation: The perpetual inventory system is a system that keeps a continuous and daily record of inventory movements and the cost of the item sold.

    In a perpetual inventory system, the cost of inventory sold is debited to cost of goods sold.
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