Under the perpetual inventory system, the cost of merchandise purchased is recorded in the Merchandise Inventory account.

Name: Under the perpetual inventory system, the cost of merchandise purchased is recorded in the Merchandise Inventory account.
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Under the perpetual inventory system, the cost of merchandise purchased is recorded in the Merchandise Inventory account as and when the purchases are made. This allows for a continuous and up-to-date recording of inventory and cost of goods sold.

Under the Perpetual Inventory System, the Cost of Merchandise Purchased