In a retail department store with an efficient perpetual inventory system,the quantities of goods actually on hand are probably somewhat more than the quantities indicated in the accounting records.

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Quizplus · Accepted Answer

In a perpetual inventory system, the accounting records are updated continuously, so the quantities indicated in the records should closely match the actual quantities on hand, barring any theft, loss, or recording errors.

In a Retail Department Store with an Efficient Perpetual Inventory