cost of goods sold account keeps a current balance throughout the period if a company uses the perpetual inventory method.

Name: cost of goods sold account keeps a current balance throughout the period if a company uses the perpetual inventory method.
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Question

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In the perpetual inventory method, the cost of goods sold (COGS) account is continuously updated with each sale or return, maintaining a current balance throughout the accounting period.

Cost of Goods Sold Account Keeps a Current Balance Throughout