31 Help Save & Exit Tetra Company uses the perpetual inventory system and a FIFO cost flow method. On January 1, the company purchased 2,600 units of inventory that cost $5.00 each. On January 12, the company purchased an additional 3,600 units of inventory at a cost of $3.60 each. On January 20, Tetra Company sold 4,600 units of inventory. Which of the following entries would be required to recognize the cost of goods sold on that date? Skipped Multiple Choice Account Title Inventory Debit 20,200 Credit Cost of goods sold 20,200 Account Title Debit Credit Cost of goods sold 20,300 Inventory 20,300 Account Title Debit Credit Cost of goods sold 20,200 Inventory 20,200 Account Title Debit Credit Inventory 20,300 Cost of goods sold 20,300