ual liventbry system, cost of goods sold is recorded a. on a daily basis b. on a monthly basis. c. on an annual basis d. with each sale Q5: Flynn Company purchased merchandise inventory with an invoice price of $5,000 and credit terms of 2/10, n/30. What is the net cost of the goods if Flynn Company pays within the discount period? a. $5,000 b. $4,900 c. $4,500 d. $4,600 Under a perpetual inventory system, ac