Author Question: When using a perpetual inventory system, a business will debit Merchandise Inventory and credit Cost ... (Read 62 times)

gbarreiro · **on:** Jul 6, 2018

When using a perpetual inventory system, a business will debit Merchandise Inventory and credit Cost of Goods Sold each time a sale is recorded.
a. True
b. False
Indicate whether the statement is true or false

Question 2

Both wholesalers and retailers are types of merchandising companies.
a. True
b. False
Indicate whether the statement is true or false