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2. Which of the following are not true about the periodic inventory system? a. A physical count of inventory is not taken at the end

2. Which of the following are not true about the periodic inventory system? a. A physical count of inventory is not taken at the end of the period. b. Purchases of inventory are not recorded in the inventory account. C. The sales of merchandise are not recorded in the inventory account. d. There is no detailed record of the amount of inventory on hand at any given time

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