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Which is a characteristic of a perpetual inventory system

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Reference no: EM132946206

Problem 1: Which of the following is a characteristic of a perpetual inventory system?

a. Inventory purchases are debited to purchases account

b. Inventory records are not kept for every item

c. Cost of goods sold is recorded with each sale

d. Cost of goods sold is determined as the amount of purchases less the change in inventory

Reference no: EM132946206

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