A company using the perpetual inventory system does not need to perform a physical count of inventory.

Question

Quizplus · Accepted Answer

Even if a company uses the perpetual inventory system, they still need to perform a physical count of inventory to ensure that their records are accurate and there are no discrepancies between the actual inventory on hand and what is recorded in the system. This helps to identify any potential theft or errors in recording inventory transactions.

A Company Using the Perpetual Inventory System Does Not Need