The journal entry for the purchase of inventory on account using the perpetual inventory system is:.

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28-02-2022
Business

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The journal entry for the purchase of inventory on account using the perpetual inventory system is:.

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topeadeniran2 topeadeniran2 · Answer 1 · 2022-03-07T10:02:34+01:00

The journal entry for the inventory purchased will be to record the sale and another one to record the cost of the sale.

What is a journal entry?

It should be noted that a journal entry is used to record the financial activities of a company.

In this case, the journal entry for the purchase of inventory on account using the perpetual inventory system is to record the sale and another one to record the cost of the good.

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