If inventory is updated perpetually,which of the equations is correct?
A)Cost of goods sold = Beginning inventory − Purchases − Ending inventory
B)Cost of goods sold = Beginning inventory + Purchases + Ending inventory
C)Ending inventory = Beginning inventory + Purchases − Cost of goods sold
D)Ending inventory = Beginning inventory + Purchases + Cost of goods sold

Question

Quizplus · Accepted Answer

Ending inventory = Beginning inventory + Purchases − Cost of goods sold

If Inventory Is Updated Perpetually,which of the Equations Is Correct