How is inventory tracked under a perpetual inventory$$ system? $($Select all that$$ apply.$)$

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Part $1$

A$.$

Under a perpetual$$ system, the inventory account can only consist of goods that are ready for sale to the customer.

B$.$

Under a perpetual$$ system, the inventory account can only consist of goods that are produced by the company itself and includes raw$$ materials, work$-$in$-$process and finished goods.

C$.$

Under a perpetual$$ system, a physical count of inventory is always required as part of the annual audit. The physical count can only be done at the end of the year. The physical count can be compared to the inventory information provided in the perpetual records as a means of testing the accuracy of the perpetual inventory system.

D$.$

Under a perpetual$$ system, a physical count of inventory is always required as part of the annual audit. The physical count can be done at one point in time or periodically throughout the year. The physical count can be compared to the inventory information provided in the perpetual records as a means of testing the accuracy of the perpetual inventory system.

E$.$

Under a perpetual$$ system, inventory accounts are continually updated for acquisitions and$$ sales, and cost of goods sold is determined after each sale.$$ Therefore, a perpetual inventory system is very efficient in that there are continual updates of$$ inventory, sales and profit information.