company purchased inventory for $1,400 per unit. The company later sold one unit of the inventory for cash of $1,900. Under the perpetual inventory system, which accounts will be debited to record the sale? DA. Cash, $1,900; Inventory, $1,400 O B. Cash, $1,900; Cost of Goods Sold, $1.400 O C. Cash, $1,900, Cost of Goods Sold, $500 O D. Cash, $1,900, Inventory, $500

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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company purchased inventory for $1,400 per unit. The company later sold one unit of the inventory for cash of $1,900. Under the perpetual inventory system, which accounts will be debited to record the sale?
O A. Cash, $1,900; Inventory, $1,400
O B. Cash, $1,900; Cost of Goods Sold, $1.400
O C. Cash, $1,900; Cost of Goods Sold, $500
O D. Cash, $1,900; Inventory, $500
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Transcribed Image Text:company purchased inventory for $1,400 per unit. The company later sold one unit of the inventory for cash of $1,900. Under the perpetual inventory system, which accounts will be debited to record the sale? O A. Cash, $1,900; Inventory, $1,400 O B. Cash, $1,900; Cost of Goods Sold, $1.400 O C. Cash, $1,900; Cost of Goods Sold, $500 O D. Cash, $1,900; Inventory, $500 Click to select your answer. P Type here to search ort sc delete 10 harkspase
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