Under the perpetual inventory system, which of the following accounts would not be used?
A) Sales
B) Purchases
C) Cost of Goods Sold
D) Inventory

Name: Under the perpetual inventory system, which of the following accounts would not be used? A) Sales B) Purchases C) Cost of Goods Sold D) Inventory
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Question

Quizplus · Accepted Answer

Under the perpetual inventory system, the Purchases account is not used because inventory purchases are directly recorded in the Inventory account.

Under the Perpetual Inventory System, Which of the Following Accounts