Strand company uses the perpetual inventory method

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Strand Company uses the perpetual inventory method. The company purchased an item of inventory for $80 and sold the item to a customer for $120. What effect will the sale have on the company's inventory account?

Reference no: EM131217228

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Strand company uses the perpetual inventory method : Strand Company uses the perpetual inventory method. The company purchased an item of inventory for $80 and sold the item to a customer for $120. What effect will the sale have on the company's inventory account?

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