Below is a list of inventory systems options:
a. Perpetual inventory system
b. Periodic inventory system
c. Both perpetual and periodic inventory systems

Required:
Match each option with one of the following:
1. Inventory purchases are recorded in a purchases account.
2. Inventory purchases are recorded in an inventory account.
3. Only revenue is recorded as sales are made during the period; the cost of goods sold is recorded at the end of the period.
4. Both revenue and cost of goods sold are recorded during the period as sales are made.
5. Cost of goods sold is determined as each sale is made.
6. Cost of goods sold is determined only at the end of the period by subtracting the cost of ending inventory from the cost of goods available for sale.
7. The inventory is verified by a physical count.