In a perpetual inventory system, costs of goods sold are accumulated in the cost of goods sold account as sales occur during the year.

Name: In a perpetual inventory system, costs of goods sold are accumulated in the cost of goods sold account as sales occur during the year.
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In a perpetual inventory system, costs of goods sold are recorded at the time of each sale, so that the cost of goods sold account is constantly updated throughout the year, rather than being calculated at the end of the period.

In a Perpetual Inventory System, Costs of Goods Sold Are