multiple choice

32) The figure for which of the following items is determined at a different time under the perpetual inventory method than under the periodic method? A) Accounts Receivable B) Purchases C) Sales Revenue D) Cost of Goods Sold 33) In a perpetual inventory system, cost of goods sold is recorded A) on a monthly basis. C) on an annual basis. B) each time a sale occurs. D) on a daily basis. 34) Under the perpetual inventory system, which of the following accounts would not be used? A) Inventory B) Sales Revenue C) Purchases D) Cost of Goods Sold 35) Under a perpetual inventory system, acquisition of merchandise for resale is debited to A) the Supplies account. B) the Purchases account. C) the cost of Goods Sold account. D) the Inventory account