When Using a Perpetual Inventory System, the Journal Entry to Record

Multiple Choice

When using a perpetual inventory system, the journal entry to record the cost of goods sold is:

A) debit Cost of Goods Sold; credit Sales
B) debit Cost of Goods Sold; credit Inventory
C) debit Inventory; credit Cost of Goods Sold
D) No journal entry is made to record the cost of goods sold.