A company that uses the perpetual inventory system sold goods for $1,000 to a customer on account. The company had purchased the inventory for $400. Which of the following journal entries correctly records the cost of goods sold?

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The Answer of A company that uses the perpetual inventory system sold goods for $1,000 to a customer on account. The company had purchased the inventory for $400. Which of the following journal entries correctly records the cost of goods sold?

A Company That Uses the Perpetual Inventory System Sold Goods