Under the perpetual inventory system,when merchandise is sold,its cost is transferred from the Merchandise Inventory account to the Sales account.

Name: Under the perpetual inventory system,when merchandise is sold,its cost is transferred from the Merchandise Inventory account to the Sales account.
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Under the perpetual inventory system, when merchandise is sold, its cost is transferred from the Merchandise Inventory account to the Cost of Goods Sold account, not the Sales account.

Under the Perpetual Inventory System,when Merchandise Is Sold,its Cost Is