A company using a perpetual inventory system made the following entry: What does this entry reflect?
A) A purchase of inventory.
B) A return of inventory.
C) A sale of inventory.
D) A payment for inventory previously purchased on credit with the payment made within the discount period.

Question

A company using a perpetual inventory system made the following entry:  What does this entry reflect?
A) A purchase of inventory. 
B) A return of inventory. 
C) A sale of inventory. 
D) A payment for inventory previously purchased on credit with the payment made within the discount period.

Quizplus · Accepted Answer

The Answer of A company using a perpetual inventory system made the following entry:  What does this entry reflect?
A) A purchase of inventory. 
B) A return of inventory. 
C) A sale of inventory. 
D) A payment for inventory previously purchased on credit with the payment made within the discount period.

A Company Using a Perpetual Inventory System Made the Following