Perpetual and Periodic Inventory Systems Below is a list of inventory systems options a Perpetual...

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Perpetual and Periodic Inventory Systems Below is a list of inventory systems options a Perpetual inventory system b Periodic inventory system c Both perpetual and periodic inventory systems Required Select the appropriate inventory systems s for each of the following 1 Only revenue is recorded as sales are made during the period the cost of goods 2 Cost of goods sold is determined as each sale is made 3 Inventory purchases are recorded in an inventory account 4 Inventory purchases are recorded in a purchases account

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Perpetual and Periodic Inventory Systems Below is a list of inventory systems options a Perpetual inventory system b Periodic inventory system c Both perpetual and periodic inventory systems Required Select the appropriate inventory systems s for each of the following 1 Only revenue is recorded as sales are made during the period the cost of goods 2 Cost of goods sold is determined as each sale is made 3 Inventory purchases are recorded in an inventory account 4 Inventory purchases are recorded in a purchases account