Under the Perpetual Inventory System, the Journal Entry to Record $$\begin{array} { | c | r | r | } \hline \text { Cost of Goods Sold } & XX & \\\hline \text { Sales } & & X X \\\hline\end{array}$$

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

A) $$\begin{array} { | c | r | r | } \hline \text { Cost of Goods Sold } & XX & \\\hline \text { Sales } & & X X \\\hline\end{array}$$
B) $$\begin{array} { | c | r | r | } \hline \text { Merchandise Inventory } & X X & \\\hline \text { Sales } & & X X \\\hline\end{array}$$
C) $$\begin{array} { | c | r | r | } \hline \text { Cost of Goods Sold } & X X & \\\hline \text { Merchandise Inventory } & &XX \\\hline\end{array}$$
D) $$\begin{array} { | c | r | r | } \hline \text { Sales } & X X & \\\hline \text { Merchandise Inventory } & &XX \\\hline\end{array}$$