In a perpetual inventory system, which of the following is recorded at the time of the sale?
A) Sales revenue only.
B) Both sales revenue and cost of goods sold.
C) Cost of goods sold only.
D) Neither sales revenue or cost of goods sold.

Question

Quizplus · Accepted Answer

In a perpetual inventory system, both sales revenue and cost of goods sold are recorded at the time of the sale, as the system continuously updates inventory records to accurately calculate the cost of goods sold. This allows for real-time tracking of inventory levels and costs, as well as the ability to make informed decisions about pricing, ordering, and operations.

In a Perpetual Inventory System, Which of the Following Is