Which of the following is true about inventory systems?
A)Periodic inventory systems require more detailed inventory records.
B)Perpetual inventory systems require more detailed inventory records.
C)A periodic system requires cost of goods sold to be recorded after each sale.
D)A perpetual system determines cost of goods sold only at the end of the accounting period.

Question

Quizplus · Accepted Answer

Perpetual inventory systems maintain continuous, real-time records of inventory and cost of goods sold, necessitating more detailed and up-to-date inventory records compared to periodic systems, which only update inventory records at the end of an accounting period.

Which of the Following Is True About Inventory Systems