Question 11 2.5 pts Under the perpetual inventory system, when a wholesaler returns the goods purchased on account, the account is credited. Accounts Receivable Merchandise Inventory Cost of Goods Sold Accounts Payable Question 12 2.5 pts The term "inventory," for a merchandiser, refers to O raw materials that are used for production equipment that are used in production process the cost of goods sold goods held for sale to customers