Cost of goods sold is determined only at the end of the accounting period in
neither a perpetual nor a periodic inventory system. a perpetual inventory system. a periodic inventory system. both a perpetual and a periodic inventory system 2- Multiple Choice Question 92 A sales invoice is a source document that provides evidence of incurred operating expenses. provides evidence of credit sales. serves only as a customer receipt. provides support for goods purchased for resale. 3- Multiple Choice Question 149 Financial information is presented below: Operating Expenses $ 45,000 Sales Returns and Allowances 9,000 Sales Discounts 6,000 Sales Revenue 160,000 Cost of Goods Sold 87,000