Under a perpetual inventory system,which of the following would NOT be required?
A) Record cost of goods sold with each sale
B) Updating the inventory balance with each sale
C) Detailed inventory records
D) A weekly count of the inventory

Question

Quizplus · Accepted Answer

Under a perpetual inventory system, a weekly count of the inventory is not required since the inventory balance is continuously updated with each sale and purchase transaction. However, detailed inventory records, recording the cost of goods sold with each sale, and updating the inventory balance with each sale are all necessary components of a perpetual inventory system.

Under a Perpetual Inventory System,which of the Following Would NOT