Middleton Company uses the perpetual inventory system.The company purchased an item of inventory for $130 and sold the item to a customer for $200.How will the sale affect the company's Inventory account?
A) The Inventory account will decrease by $200.
B) The Inventory account will decrease by $130.
C) The Inventory account will decrease by $70.
D) The Inventory account will not change.
Correct Answer:
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