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Which type or types of inventory timing system (periodic or perpetual) requires the user to record two journal entries every time a sale is made.
Which type or types of inventory timing system (periodic or perpetual) requires the user to record two journal entries every time a sale is made.
A. goods available for sale beginning inventory = purchases
B. If cost of goods sold is incorrect, ending inventory is usually incorrect too.
C. ending inventory + cost of goods sold = goods available for sale
D. beginning inventory + purchases = cost of goods sold
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