A company uses a perpetual system to record inventory, Financial Accounting

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A company uses a perpetual system to record inventory

A company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 9, 2018, for $50,000 and then sells this inventory on account on March 7, 2018, for $70,000. Record the transactions for the purchase and sale of the inventory.

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Financial Accounting: A company uses a perpetual system to record inventory

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Financial Accounting: A company uses a perpetual system to record inventory

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