When a company uses the perpetual inventory system, the:
A) Merchandise Inventory account balance does not change until the end of the year.
B) Merchandise Inventory account is debited when inventory is purchased.
C) sale of inventory requires a credit to Cost of Goods Sold.
D) acquisition of merchandise requires a debit to Purchases

Question

When a company uses the perpetual inventory system, the: 
A) Merchandise Inventory account balance does not change until the end of the year.
B) Merchandise Inventory account is debited when inventory is purchased.
C) sale of inventory requires a credit to Cost of Goods Sold.
D) acquisition of merchandise requires a debit to Purchases

Quizplus · Accepted Answer

The Answer of When a company uses the perpetual inventory system, the: 
A) Merchandise Inventory account balance does not change until the end of the year.
B) Merchandise Inventory account is debited when inventory is purchased.
C) sale of inventory requires a credit to Cost of Goods Sold.
D) acquisition of merchandise requires a debit to Purchases

When a Company Uses the Perpetual Inventory System, The