Under a perpetual inventory system
A)there is no need for a year-end physical count.
B)increases in inventory resulting from purchases are debited to Purchases.
C)accounting records continuously disclose the amount of inventory.
D)the account Purchase Returns and Allowances is credited when goods are returned to vendors.

Question

Quizplus · Accepted Answer

Under a perpetual inventory system, inventory records are updated continuously to reflect purchases and sales, thus always showing the current inventory levels.

Under a Perpetual Inventory System