Under a perpetual inventory system, both the sales amount and the cost of goods sold amount are recorded when each item of merchandise is sold.

Name: Under a perpetual inventory system, both the sales amount and the cost of goods sold amount are recorded when each item of merchandise is sold.
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In a perpetual inventory system, every sale is recorded and the cost of goods sold is also recorded at the same time. This allows for up-to-date and accurate tracking of inventory levels and cost of goods sold.

Under a Perpetual Inventory System, Both the Sales Amount and the Cost