At which point in accounting for inventory in a perpetual system is determining the cost of goods sold amount an issue?

Question

Quizplus · Accepted Answer

In a perpetual system, the cost of goods sold is determined at the point of sale, as each sale is recorded and the corresponding cost of the item sold is identified from the inventory records. Therefore, the determination of cost of goods sold becomes an issue at the point of sale.

At Which Point in Accounting for Inventory in a Perpetual