Have you Ever Realized... (spoilers)

I've seen this film (I prefer the 1978 version but either way) a hundred or more times. Sometimes I'll watch it all week. Something about it, I don't know.

Anyhow, have you ever watched it and realized that although, in the literal sense, the bullet is inside Cosmo after the scene in which he kills the Chinaman...

But doesn't it seem as if the bullet is inside him for the entire film?