With a perpetual inventory system,cost of goods sold is calculated only when the firm is ready to prepare financial statements.

Name: With a perpetual inventory system,cost of goods sold is calculated only when the firm is ready to prepare financial statements.
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Question

Quizplus · Accepted Answer

With a perpetual inventory system, cost of goods sold is updated continuously as inventory is sold. It is not calculated only when financial statements are being prepared.

With a Perpetual Inventory System,cost of Goods Sold Is Calculated