Multiple Choice
The journal entry to transfer the beginning inventory to cost of goods sold under the periodic inventory system is :
A) debit Purchases and credit Cost of Goods Sold.
B) debit Purchases and credit Inventory.
C) debit Inventory and credit Cost of Goods Sold.
D) debit Cost of Goods Sold and credit Inventory.
Correct Answer:
Verified
Correct Answer:
Verified
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