Question & Answer: What account is debited when inventory is sold ( journal entry to decrease inventory)? Cost of goods sold…..

What account is debited when inventory is sold ( journal entry to decrease inventory)?

Cost of goods sold

Merchandise Inventory

Supplies

Accounts Payable

Expert Answer

 

journal entry to decrease inventory is

Cost of goods sold debited

Merchandise Inventory credited

So the option is A.cost of goods sold

Still stressed from student homework?
Get quality assistance from academic writers!