If a purchaser using a perpetual inventory system pays freight costs, then the: Group of answer choices Inventory account is increased. Inventory account is not affected. Freight-out account is increased. Delivery Expense account is increased.

The Freight-in account:Group of answer choicesincreases the cost of inventory purchased.is contra to the Purchases account.is a permanent account.has a normal credit balance.

Under a perpetual inventory system, acquisition of merchandise for resale is debited to the: Group of answer choices Cost of Sales account. Purchases account. Supplies account. Inventory account.

Assuming a periodic inventory system is used, freight charges on merchandise purchases should be debited to:Multiple Choicethe Freight In account.the Purchases account.the Accounts Payable account.the creditor's account in the subsidiary ledger.

Under a perpetual inventory system: Group of answer choices accounting records continuously record the movement of inventory as it occurs. increases in inventory resulting from purchases are debited to purchases. there is never a need for a year-end physical count. the account purchase returns and allowances is credited when goods are returned to vendors.

Freight costs incurred by a seller on merchandise sold to customers will cause an increase:Group of answer choicesin the selling expenses of the buyer.in operating expenses for the seller.to the cost of sales of the seller.to a discount received account of the seller.