When a Company Uses the Perpetual Inventory Method, Which of the Following

Multiple Choice

When a company uses the perpetual inventory method, which of the following would be the entry to adjust inventory to lower- of- cost- and- net- realisable- value?

A) Debit Purchases and credit Inventory
B) Debit Cost of sales and credit Inventory
C) Debit Inventory and credit Cost of sales
D) Debit Inventory and credit Purchases