When a Perpetual Inventory System Is Used, Which of the Following

question 185

Multiple Choice

When a perpetual inventory system is used, which of the following is a purpose of taking a physical inventory?

• A)To check the accuracy of the perpetual inventory records
• B)To determine cost of goods sold for the accounting period
• C)To compute inventory ratios
• D)All are a purpose of taking a physical inventory when a perpetual inventory system is used.

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