Murphy purchased (and received) inventory on account in May and sold part of it on account to customers in July. In June, Murphy paid the supplier for the goods purchased. In August, Murphy collected from its customers. When does the cost of inventory become an expense for Murphy? When a year-end inventory count is performed When payment is made to the supplier in June When collection is made from the customer in August When it is sold to a customer in July When it is purchased from the supplier in May