Which of the following companies would be more likely to use the specific identification inventory costing Gordon's Jewelers Lowe's Best Buy Wal-Mart Addison, Inc uses a perpetual inventory system. following is information about one inventory item for the month of September: Sep. 1 Inventory 20 units at $20 10 units 10 Purchased 30 units at $25 17 Sold 20 units 30 Purchased 10 units at $30 20. If Addison uses FIFO, the cost of the ending merchandise inventory on September 30 is $800 $650 $750 $700 If Addison uses Life. the cost of the ending merchandise inventory on September 30 is $800 $650 $750 $700 When using a perpetual inventory system, the jourmal entry to record the cost of merchandise sold is: debit Cost of Merchandise Sold: credit Sales debit Cost of Merchandise Sold: credit Merchandise Inventory debit Merchandise Inventory: credit Cost of Merchandise Sold No jourmal entry is made to record the cost of merchandise sold