Under a periodic inventory system: O the revenue but not the cost of goods sold is recorded the cost of goods sold but not the revenue are recorded the revenue and the cost of goods sold are recorded the cost of goods sold are recorded after each sale

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Under a periodic inventory system, sales revenue is recorded at the time of sale. However, the cost of goods sold (COGS) is not updated with every sale; instead, it is determined and recorded only at the end of the accounting period when a physical count of inventory is performed.

1. When a sale occurs, the entry for recording the sale is made. For example, one might record:
   $$
   \text{Debit: Accounts Receivable (or Cash)} \quad \text{Credit: Sales Revenue}
   $$
2. The cost of goods sold is not recorded at this time. Instead, at the end of the period, the following calculation is done:
   $$
   \text{COGS} = \text{Beginning Inventory} + \text{Purchases} - \text{Ending Inventory}
   $$
   and then the entry to record COGS is made.

Thus, the correct statement is: **the revenue but not the cost of goods sold is recorded** during each sale in a periodic inventory system.
Under a periodic inventory system, only sales revenue is recorded when a sale occurs. The cost of goods sold is determined and recorded only at the end of the accounting period.

Under a periodic inventory system: O the revenue but not the cost of goods sold is recorded the cost of goods sold but not the revenue are recorded the revenue and the cost of goods sold are recorded the cost of goods sold are recorded after each sale

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