Using a perpetual inventory system, how should a company record the sale of inventory costing $450 for $930 on account?

1.	Inventory	450
	Cost of Goods Sold		450
	Sales Revenue	930
	Accounts Receivable		930
2.	Accounts Receivable	930
	Sales Revenue		930
	Cost of Goods Sold	450
	Inventory		450
3.	Inventory	450
	Gain	480
	Sales Revenue		930
4.	Accounts Receivable	930
	Sales Revenues		450
	Gain		480

Multiple Choice

• Option 1

• Option 2

• Option 4

• Option 3