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A Company Purchased Inventory for $1,300 Per Unit

Question 72

Multiple Choice

A company purchased inventory for $1,300 per unit.The company later sold one unit of the inventory for cash of $1,900.Under the perpetual inventory system,which accounts will be debited to record the sale?


A) Cash,$1,900;Inventory,$1,300
B) Cash,$1,900;Cost of Goods Sold,$1,300
C) Cash,$1,900;Cost of Goods Sold,$600
D) Cash,$1,900;Inventory,$600

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