When a perpetual inventory system is used sales revenue is, Ask an Expert

Accounting

When a perpetual inventory system is used, sales revenue is recorded as products are sold:

a) but the cost of goods sold is not recorded

b) and the cost of the goods sold is transferred from the finished goods inventory account to the cost of goods sold account

c) and the cost of the goods sold is transferred from the work in process incentory account to the cost of goods sold account

d) and the cost of goods sold is transferred from the cost of goods manufactured to the cost of goods sold account

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M962995

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