Multiple Choice
Which of the following is true of the perpetual inventory system?
A) The amount of merchandise available for sale is continuously updated in the inventory records.
B) Physical inventory is used to determine the cost of inventory on hand at the end of the period.
C) The inventory does not show the amount of merchandise sold.
D) The inventory account is updated for each purchase and sale, and related items in the subsidiary ledger are updated on a monthly basis.
Correct Answer:
Verified
Correct Answer:
Verified
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