Which of the Following Are Characteristics of a Periodic Inventory

question 117

Multiple Choice

Which of the following are characteristics of a periodic inventory system?

• A) The system does not maintain a continuous record.
• B) Management knows how much inventory is on hand at all times.
• C) The computer tracks inventory upon a sale and the cost of goods and inventory are immediately updated.
• D) Purchases of inventory are recorded to the inventory account.

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