Question:Under a perpetual inventory system, when goods are purchased for resale by a company: 

A purchases on account are debited to Merchandise Inventory. 
B purchases on account are debited to Purchases. 
C purchase returns are debited to Purchase Returns and Allowances. 
D freight costs are debited to Freight-out. 

+ Answer
A 

+ Report

Mohammad Towhidul Islam

Editor, VCampus

Your Name

Your Email

Type of Report
Spelling MistakeIncorrect AnswerGrammar MistakeContent MissingImproper Text FormatInsufficient AnswerDuplicate QuestionImproper Sentence StructureImproper Equation/FormulaOther

Description