Under the perpetual inventory method, purchased goods are recorded to the A. Purchases account...

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Accounting

Under the perpetual inventory method, purchased goods are recorded to the

A. Purchases account as a credit. B. Purchases account as a debit. C. Cost of Goods Sold account as a debit. D. Inventory account as a debit.

The _______ method is used to estimate the cost of ending inventory.

A. FIFO
B. average cost
C. gross profit
D. LIFO

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