One difference in the Sales Journal between the perpetual and periodic systems is
A) The column to record cost of goods sold and inventory amounts sold
B) The addition of a sales tax payable column
C) The deletion of a sales tax payable column
D) The column to record cost of goods sold and inventory amounts sold and the deletion of a sales tax payable column
E) The column to record cost of goods sold and inventory amounts sold and the addition of a sales tax payable column

Question

Quizplus · Accepted Answer

In a perpetual system, the Sales Journal includes a column to record the cost of goods sold and the inventory amounts sold, reflecting the immediate adjustment of inventory and cost of goods sold at the time of each sale. This is not present in a periodic system, where inventory and cost of goods sold are adjusted at the end of the period.

One Difference in the Sales Journal Between the Perpetual and Periodic