With the perpetual inventory method, which of the following entries would be made when inventory costing $3,600 is sold for $5,000?
B) $\begin{array}{ll} \text { Cost of Goods Sold } & 3,600 \ \text { Inventory } & 3,600 \end{array}$
C) $\begin{array} { l } \text { Purchases } \quad 5,000 \ \text { Accounts Receivable } \quad 5,000 \ \end{array}$
D) $\begin{array}{lc} \text { Inventory } & 3,600 \ \text { Cost of Goods Sold } & 5,000 \ \text { Accounts Payable } & 3,600 \ \text { Purchases } & 5,000 \end{array}$

Question

With the perpetual inventory method, which of the following entries would be made when inventory costing $3,600 is sold for $5,000?
B) $\begin{array}{ll} \text { Cost of Goods Sold } & 3,600 \ \text { Inventory } & 3,600 \end{array}$ 
C) $\begin{array} { l } \text { Purchases } \quad 5,000 \ \text { Accounts Receivable } \quad 5,000 \ \end{array}$ 
D) $\begin{array}{lc} \text { Inventory } & 3,600 \ \text { Cost of Goods Sold } & 5,000 \ \text { Accounts Payable } & 3,600 \ \text { Purchases } & 5,000 \end{array}$

Quizplus · Accepted Answer

The Answer of With the perpetual inventory method, which of the following entries would be made when inventory costing $3,600 is sold for $5,000?
B) $\begin{array}{ll} \text { Cost of Goods Sold } & 3,600 \ \text { Inventory } & 3,600 \end{array}$ 
C) $\begin{array} { l } \text { Purchases } \quad 5,000 \ \text { Accounts Receivable } \quad 5,000 \ \end{array}$ 
D) $\begin{array}{lc} \text { Inventory } & 3,600 \ \text { Cost of Goods Sold } & 5,000 \ \text { Accounts Payable } & 3,600 \ \text { Purchases } & 5,000 \end{array}$

With the Perpetual Inventory Method, Which of the Following Entries Cost of Goods Sold 3,600 Inventory 3,600\begin{array}{ll}\text { Cost of Goods Sold } & 3,600 \\\text { Inventory } & 3,600\end{array} Cost of Goods Sold Inventory ​3,6003,600​

With the Perpetual Inventory Method, Which of the Following Entries $\begin{array}{ll}\text { Cost of Goods Sold } & 3,600 \\\text { Inventory } & 3,600\end{array}$