The journal entry to record the sale of a product,assuming a perpetual inventory system,would include a:
A)debit to Sales Revenue
B)credit to Cost of Goods Sold
C)debit to Work-in-Process Inventory
D)credit to Finished Goods Inventory

Question

Quizplus · Accepted Answer

In a perpetual inventory system, when a product is sold, the Finished Goods Inventory is credited to decrease the inventory account, reflecting the cost of goods sold.

The Journal Entry to Record the Sale of a Product,assuming