Under the perpetual inventory system,cost of goods sold can be determined before a physical inventory count is completed.

Question

Quizplus · Accepted Answer

Under the perpetual inventory system, the cost of goods sold can be determined in real-time as sales are made and inventory is continuously updated. This means that a physical inventory count is not necessary to determine the cost of goods sold. Hence, the statement is true.

Under the Perpetual Inventory System,cost of Goods Sold Can Be