Multiple Choice
In a periodic inventory system ________.
A) quantities of merchandise inventory on hand are updated after each sale and each purchase
B) the cost to invest in the system is greater than the cost to invest in a perpetual inventory system
C) the business is in violation of U.S. GAAP
D) businesses must obtain a physical count of inventory to determine quantities on hand
Correct Answer:
Verified
Correct Answer:
Verified
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