ENTREP 10 QUIZ 4.1

1. Perpetual inventory system is the ________record of your inventory.

2. _________ is considered as "real-time" inventory tracking.

3. What is the debit entry for this transaction under perpetual inventory system?

   Purchased goods on credit

4. Paid freight . ( Credit entry only use Perpetual Method)

5. Sold goods on account P500. Cost of sales is 5%, how much is the computed cost of sales?