Assertion: inventory's cost | /r/HasProperty | calculated in a lump sum
Facets:
value: by adding total purchases
type: MANNER
value: under the periodic inventory system
type: OTHER
value: conversely
type: MANNER
Source sentences:
text: Conversely, under the periodic inventory system, the cost of goods sold is calculated in a lump sum at the end of the accounting period, by adding total purchases to the beginning inventory and subtracting ending inventory.
text: Under the periodic inventory system, the cost of goods sold is calculated in a lump sum at the end of the reporting period, by adding total purchases to the beginning inventory and subtracting ending inventory while the perpetual system allows continual updates to the cost of goods sold account with each sale.