A retailer has a perpetual inventory system. The retailer sells inventory to a customer on FOB destination terms. What account, if any, will be debited by the retailer for the cost of shipping goods sold to the customer? D Select one: O a Merchandise Inventory O b. Cost of Goods Sold Oc Accounts receivable Od Freight Out Oe. No journal entry A business uses a perpetual inventory system. During periods of rising prices, the ending inventory using the weighted average cost formula will be: Select one: O a. indeterminable. O b. lower than using the FIFO cost formula. O c. the same as using the FIFO cost formula. Od higher than using the FIFO cost formula