A key difference between the periodic and perpetual inventory systems is the timing of the calculation of cost of goods sold.

Name: A key difference between the periodic and perpetual inventory systems is the timing of the calculation of cost of goods sold.
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In a periodic inventory system, the cost of goods sold is calculated at the end of the accounting period, whereas in a perpetual inventory system, the cost of goods sold is calculated continuously as sales occur.

A Key Difference Between the Periodic and Perpetual Inventory Systems