11. (61) In a periodic inventory system for a company that operates only on an annual 12-month accounting cycle, the Cost of Goods Sold is: OA. Recorded at the same time as the related sales transactions as they occur throughout the year. B. Equal to the beginning inventory, plus purchases made during the period, less sales revenue for the period. O C. Determined by a computation which is performed at year-end, after the taking of a complete physical inventory. OD. Part of other operating expenses and not directly related to the sale.