Question: Which statement is correct? 1. A production company must apply a perpetual inventory system. 2. A production firm should apply a perpetual inventory system. 3.

Which statement is correct?

1. A production company must apply a perpetual inventory system.

2. A production firm should apply a perpetual inventory system.

3. A production firm must apply a periodic inventory system.

4. A production firm should apply a periodic inventory system.

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