Under a perpetual inventory system, when goods are purchased for resale by a company:
(a...
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Business, 18.04.2020 03:22 cordovatierra16
Under a perpetual inventory system, when goods are purchased for resale by a company:
(a) purchases on account are debited to Inventory.
(b) purchases on account are debited to Purchases.
(c) purchase returns are debited to Purchase Returns and Allowances.
(d) freight costs are debited to Freight-Out.
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