Davis Hardware Company uses a perpetual Inventory system. How should Davis record the sale of merchandise, costing $640, and sold on account for $1.000? Multiple Choice 640 640 Inventory Accounts receivable Sales Sales revenue 1,000 1,000 Inventory Gain on sale Sales revenue 640 360 1,000 1,000 Accounts receivable Sales revenue Gain on sale 640 360 Inventory Gain on sale Sales revenue 640 360 1,000 1,000 Accounts receivable Sales revenue Gain on sale 640 360 1,000 1,000 Accounts receivable Sales revenue Cost of goods sold Inventory 640 640 + H Next