Assuming the Use of the Perpetual Inventory Method Which of These

Multiple Choice

Assuming the use of the perpetual inventory method which of these entries would be a closing entry at the end of the accounting period?

A) Debit inventory; credit profit or loss summary
B) Debit profit or loss summary; credit cost of sales
C) Debit profit or loss summary; credit purchases
D) Debit profit or loss summary; credit inventory