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12:56 58% X Company uses a perpetual inventory system. The company's beginning inventory and its purchases during the month of February are presented in
12:56 58% X Company uses a perpetual inventory system. The company's beginning inventory and its purchases during the month of February are presented in this table: Date Quantity Unit Cost Selling prior Feb. 5 Beginning inventory 9 Purchase "I Paha 40 40 13 Sale 65 7 90 35 Refer to the above data: Assuming that the company uses the Average cost flow assumption, while recording the entry on February 13, Accounts Receivable and Cost of Goods Sold should be debited by $585 and $3,150 respectively Cost of Goods Sold and Accounts Receivable should be debited by $3,150 and $585 respectively Sales Revenue should be decreased by $3,150 Inventory should be credited by 585 None of the above III Dane 10 of 10
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