When a Company Uses the Periodic Inventory System,which of the Following

Multiple Choice

When a company uses the periodic inventory system,which of the following is true?

A) Purchases are recorded in the cost of goods sold account.
B) The inventory account is updated after each sale.
C) Cost of goods sold is computed at the end of the accounting period rather than at each sale date.
D) The inventory account is updated throughout the year as purchases are made.