Question 5 Freight costs incurred by a seller on merchandise sold to customers will cause an increase O to the cost of goods sold of the seller. O in operating expenses for the seller. O in the selling expenses of the buyer. O to a contra-revenue account of the seller.

Question 10 Under the perpetual inventory system, in addition to making the entry to record a sale, a company would O make no additional entry until the end of the period. O debit Cost of Goods sold and credit Inventory. O debit Inventory and credit Cost of Goods Sold. O debit Cost of Goods Sold and credit Purchases.