Perpetual Inventory System: A type of inventory system used to determine the cost of the inventory which practices to record the transactions or purchase or sale of merchandise as soon as it takes place. To identify: The account that is debited for recording a purchase of inventory under perpetual inventory system.

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Chapter 5, Problem 8RQ

To determine

Perpetual Inventory System: A type of inventory system used to determine the cost of the inventory which practices to record the transactions or purchase or sale of merchandise as soon as it takes place.

To identify: The account that is debited for recording a purchase of inventory under perpetual inventory system.

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