Mighty Ducks,Inc.'s inventory activity in October 2011 was as follows: Which of the following shows the correct effect on the accounting equation of the October 25 sale on account using the perpetual FIFO method of accounting for inventory?

Question

Mighty Ducks,Inc.'s inventory activity in October 2011 was as follows:  Which of the following shows the correct effect on the accounting equation of the October 25 sale on account using the perpetual FIFO method of accounting for inventory?

Quizplus · Accepted Answer

The Answer of Mighty Ducks,Inc.'s inventory activity in October 2011 was as follows:  Which of the following shows the correct effect on the accounting equation of the October 25 sale on account using the perpetual FIFO method of accounting for inventory?