Under the periodic inventory system,cost of goods sold is treated as an account.

Name: Under the periodic inventory system,cost of goods sold is treated as an account.
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Under the periodic inventory system, cost of goods sold is not treated as an account. Instead, it is calculated at the end of the accounting period by deducting the ending inventory from the total cost of goods available for sale. This cost of goods sold figure is then reported on the income statement.

Under the Periodic Inventory System,cost of Goods Sold Is Treated