Under the perpetual inventory system, the journal entry to record cost of goods sold when a product is sold is:

Name: Under the perpetual inventory system, the journal entry to record cost of goods sold when a product is sold is:
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Question

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Under the perpetual inventory system, cost of goods sold is recorded at the time of sale. The journal entry to record this is to debit Cost of Goods Sold and credit Inventory. Option C is the correct answer as it represents this journal entry.

Under the Perpetual Inventory System, the Journal Entry to Record