A company sold merchandise with a cost of $217 for $390 on account. The seller uses the perpetual inventory system. The entry to record the cost of merchandise sold would include . A. a debit to Merchandise Inventory for $231 and a credit to Cost of Goods Sold for $231
B. a debit to Cash and a credit to Sales Revenue for $480
C. a debit to Sales Revenue and a credit to Cash for $480
D. a debit to Cost of Goods Sold and a credit to Merchandise Inventory for $231

The beginning inventory is expected to be 2,000 cases. expected sales are 10,000 cases, and the company wishes to begin the next period with an inventory of 1,000 cases. the number of cases the company must purchase during the month is multiple choice 9,000 cases. 10,000 cases. 11,000 cases. 13,000 cases.

Which of the following statements accurately describes how costs and benefits are calculated?

On september 12, ryan company sold merchandise in the amount of $5,800 to johnson company, with credit terms of 2/10, n/30. the cost of the items sold is $4,000. ryan uses the periodic inventory system and the net method of accounting for sales. on september 14, johnson returns some of the non-defective merchandise, which is restored to inventory. the selling price of the returned merchandise is $500 and the cost of the merchandise returned is $350. the entry or entries that ryan must make on september 14 is (are): multiple choice sales returns and allowances 490 accounts receivable 490 merchandise inventory 350 cost of goods sold 350 sales returns and allowances 490 accounts receivable 490 sales returns and allowances 500 accounts receivable 500 sales returns and allowances 490 accounts receivable 490 merchandise inventory 343 cost of goods sold 343 sales returns and allowances 350 accounts receivable 350