Question:Russell Merchandising Ltd. uses the perpetual inventory system. Which of the following statements would be correct?
A When they record a sale, it should also debit inventory.
B When they record a sale, it should also credit inventory.
C When they record a sale, it should also credit cost of goods sold.
D When they record a sale, it should also debit cost of goods available for sale.
+ AnswerB
+ Explanation
+ Report