Retail
COGS Recognition — Perpetual Inventory System (Per Sale)
Recognizing cost of goods sold at the point of each individual sale in a perpetual system.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cost of Goods Sold | Expense (+) | 55.00 | - |
| Merchandise Inventory | Asset (-) | - | 55.00 |
💡 Accountant's Note
In a perpetual system (used with barcode/POS systems), COGS is recognized on every sale transaction. The inventory balance is updated in real-time.
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