Question
Vern uses a perpetual inventory method at his store.This means that purchases are debited to his merchandise inventory. Which of the following is credited to
Vern uses a perpetual inventory method at his store.This means that purchases are debited to his merchandise inventory.
Which of the following is credited to his merchandise inventory?
- Owner's equity
- Cost of goods sold
- Net sales
- Purchase returns
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Financial accounting
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
IFRS Edition
9781119153726, 978-1118285909
