In a Periodic Inventory System ________

question 241

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

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