In a perpetual inventory system,Cost of Goods Sold is an account in the general ledger.

Name: In a perpetual inventory system,Cost of Goods Sold is an account in the general ledger.
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In a perpetual inventory system, the cost of goods sold account is continuously updated as each sale is made and its corresponding cost is recorded in the system. This account reflects the total cost of goods sold during a particular time period and is an important component of the financial statements.

In a Perpetual Inventory System,Cost of Goods Sold Is an Account