A company that makes the following journal entry at the time of sale is using which of the following inventory systems? $$\begin{array}{l}
\text { Dr. Cost of sales } \quad \mathrm { xxx }\
\text { Cr. Inventory } \quad \mathrm { xxx }
\end{array}$$
A)Periodic system
B)Perpetual system
C)Just-in-time system
D)Specific identification system

Question

A company that makes the following journal entry at the time of sale is using which of the following inventory systems? $$\begin{array}{l}
\text { Dr. Cost of sales } \quad \mathrm { xxx }\
\text { Cr. Inventory } \quad \mathrm { xxx }
\end{array}$$
A)Periodic system
B)Perpetual system
C)Just-in-time system
D)Specific identification system

Quizplus · Accepted Answer

The Answer is B

A Company That Makes the Following Journal Entry at the Time