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Hi If using the perpetual inventory system what is the impact of COGS if the company sells inventory? I think it would be a credit but I get really confused re debits/credits :rolleyes: Thanks for your help.

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This is a silly question I'm sure, and the answer is very simple, but it is driving me crazy... The problem is: At the beginning of the year, The Office Equipment account of Gulf Coast Airlines had a debit balance of $126,900. During the year, debit entries of $23, 400 and credit entries of...

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