Question

A perpetual inventory system records the cost of goods sold at the time of each ________?

Answer 1

A perpetual inventory system records the cost of goods sold at the time of each sale.

Step-by-step explanation:

A perpetual inventory system records the cost of goods sold at the time of each sale.

In a perpetual inventory system, every transaction involving the sale of goods is recorded in real-time. This includes recording the cost of goods sold, which represents the cost of the inventory items that were sold to customers.

For example, let's say a company sells a widget for $10 and the cost of the widget is $5. In a perpetual inventory system, the cost of goods sold would be recorded as $5 at the time of the sale.