객관식
Under the perpetual inventory system, how is the Cost of Goods Sold (COGS) determined when a sale occurs?
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4. Merchandising Operations
Cost of Goods Sold - Perpetual Inventory vs. Periodic Inventory
객관식
Under the perpetual inventory system, how is the Cost of Goods Sold (COGS) determined when inventory is sold?
A
COGS is updated continuously with each sale based on the actual cost of inventory sold.
B
COGS is not recorded until payment is received from customers.
C
COGS is calculated only at the end of the accounting period using a physical count.
D
COGS is estimated using the average cost of inventory at the end of the period.
검증된 단계별 안내1
Understand the perpetual inventory system: This system continuously updates inventory records and Cost of Goods Sold (COGS) in real-time as transactions occur, rather than waiting until the end of the accounting period.
Recognize the key feature of perpetual inventory systems: When inventory is sold, the actual cost of the inventory sold is immediately recorded as COGS. This ensures that the financial statements reflect the most accurate and up-to-date information.
Clarify the incorrect options: COGS is not recorded based on customer payment (as payment timing is unrelated to inventory cost recognition), nor is it calculated only at the end of the accounting period using a physical count (this is characteristic of the periodic inventory system).
Explain why estimation methods like average cost are not used in this context: Under the perpetual system, the actual cost of each inventory item sold is tracked and recorded, rather than relying on estimates or averages.
Summarize the correct approach: In the perpetual inventory system, COGS is updated continuously with each sale based on the actual cost of the inventory sold, ensuring real-time accuracy in financial reporting.
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