Answered

Under a periodic inventory system:

A. The cost of goods sold is recorded after each sale.
B. The cost of goods sold but not the revenue is recorded.
C. The revenue but not the cost of goods sold is recorded.
D. The revenue and the cost of goods sold are recorded.



Answer :

GinnyAnswer

Final answer:

Under a periodic inventory system, both revenue and cost of goods sold are recorded for each sale.


Explanation:

Under a periodic inventory system, the revenue and the cost of goods sold are recorded. When a company sells goods, the cost of those goods is immediately deducted from the revenue generated by the sale, reflecting the expense incurred to produce the goods.


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