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Assume that the company's year-end is on December 31. On October 12, the company correctly made the following complete entry to record its sales for
Assume that the company's year-end is on December 31. On October 12, the company correctly made the following complete entry to record its sales for that day: Debit: Accounts Receivable $10,000 Credit: Sales $10,000 Debit: Cost of Goods Sold $8,000 Credit: Inventory $8,000 Based on this information, what can you conclude about the company? Group of answer choices The company is likely using periodic inventory system The company is likely using just-in-time (JIT) inventory system The company is likely using perpetual inventory system B & C
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