Recording the purchase of inventory on account would involve:

Group of answer choices

a debit to liability and a credit to asset.

a debit to asset and a credit to liability

a debit to asset and a credit to asset.

a debit to expense and a credit to asset.

a debit to liability and a credit to liability

2. Marble Corporation had the following transaction during the month of July:

7/1 Beginning Inventory 200 units @ $7 each

7/5 Sold 150 units @ $11 each

7/12 Purchased 90 units @ $8 each

7/20 Sold 130 units @ $12.50 each

7/25 Purchased 70 units @ $8.30 each

Marble Corporation uses a perpetual averaging system. What is the cost of goods sold for the month of July?

Group of answer choices

$1,007.68

$2,050.00

$2,043.57

$1,015.33

$1,023.00