Multiple Choice
If a perpetual inventory system is used instead of a periodic system,identify the accounts that the Merchandise Inventory account replaces.
A) Purchases,Sales,Freight In
B) Purchases,Purchase Returns and Allowances,Freight In
C) Purchases,Cost of Goods Sold
D) Purchases,Accounts Receivable,Freight In
Correct Answer:
Verified
Correct Answer:
Verified
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