Using a perpetual inventory system, inventory that is sold on account for $9,000 and which had a cost of $6,500 would be recorded using the following entry?

Name: Using a perpetual inventory system, inventory that is sold on account for $9,000 and which had a cost of $6,500 would be recorded using the following entry?
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Question

Quizplus · Accepted Answer

Sales of inventory on account require a debit to Accounts receivable and a credit to Sales at the selling price AND a debit to COS and a credit to inventory at cost.

Using a Perpetual Inventory System, Inventory That Is Sold on Account