TB MC Qu. 6-143 (Algo) Using a perpetual inventory system, how... Using a perpetual inventory system, how should a company record the sale of inventory costing $480 for $920 on account? Event Account Title Debit Credit 1. Inventory 480 Cost of Goods Sold 480 Sales Revenue 920 Accounts Receivable 920 2. Accounts Receivable. 920 Sales Revenue 920 Cost of Goods Sold 480 Inventory 480 3. Inventory 480 Gain 440 Sales Revenue 920 4. Accounts Receivable 920 Sales Revenues 480 Gain 440 Multiple Choice Option 1 Option 2 Option 3 Option 4