Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. when using a perpetual inventory method, what acco

When using a perpetual inventory method, what account(s) must be updated when a sale is...

60.1K

Verified Solution

Question

Accounting

When using a perpetual inventory method, what account(s) must be updated when a sale is recognized?

A. Cost of Goods Sold

B. Supplies

C. Merchandise Inventory

D. Both A and C are correct.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

4.            John buys shares of stock in Acme Corp. on January 1, 2018 for $50. John dies...

Accounting
Q

In the figure shown the spring are connected to the rod at one end and...

Physics
Q

C 0 25 sec D 0 5 sec The maximum acceleration of a particle in...

Physics
Q

The points 4 27 and 9 r lie on a line with slope 5 Find...

Basic Math
Q

An image of a book shown on a website is 1.5 inches wide and 3...

Basic Math
Q

Rockwell hardness of pins of a certain type is known to have a mean value...

Statistics
Q

Select one or more answers and submit. For keyboard navigation.To solve the equation -5x =...

Algebra
Q

Suppose there are n jobs J1J2Jn which are to be processed in two machines say...

Algebra
Q

Problem 11-37 (LO. 2, 8) BDD Partnership is a service-oriented partnership that has...

Accounting
Q

Mike and Melissa form the equal MM Partnership. Melissa contributes the assets of her sole...

Accounting
Q

Equestrian corporation has retained earnings of 100,000, Total paid in capital of $50,000 and Accumulated...

Accounting
Q

The atandard deoc labor oost per bakch of fuape is

Accounting