Question

In perpetual inventory system with process costing, the cost of units sold is recorded by debiting cost of goods sold and crediting ________. 48) ______

a. wages payable

b. sales revenue

c. finished goods inventory

d. work-in-process inventory

Answer 1

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Answer 2

Answer:

"C"

Explanation:

Perpetual inventory is an inventory method that monitors the flow of inventory through a business operation.

Process cost is a costing system that allocates cost to goods and services produced over a period of time, either in a month or as otherwise decided. It is also practiced through sharing of cost over goods produced in a batch.

In perpetual inventory with process costing , the cost of units sold is recorded by debiting cost of goods sold and crediting finished goods inventory.