Answer:
Cost of goods sold DR 600
Merchandise inventory CR 600
Step-by-step explanation:
A perpetual inventory system is a method of inventory management that is used in order to records real-time transactions of received or sold stock. In this system, based on the information provided the company would make the following entry
Cost of goods sold DR 600
Merchandise inventory CR 600
This is because there is a difference on physical goods on hand of 600, meaning that they sold that amount throughout the year. Which is made as a Cost of Goods Sold entry. The company also needs to enter the amount of goods that have been acquired by a distributor, wholesaler, or retailer from suppliers which would be the same.