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

A Company That Uses the Perpetual Inventory System Sold $1,000