Lawson Company operates a retail shoe store. The company does not take a physical inventory at the end of the accounting period. Lawson has correctly concluded that a physical inventory is not needed if the company uses a perpetual inventory system. has incorrectly concluded that a physical inventory is not needed since all merchants should conduct a physical inventory at the end of the accounting period. has correctly concluded that a physical inventory is not needed if the company uses a periodic inventory system. has correctly concluded that a physical inventory is not needed if the company uses a combination of the perpetual and periodic inventory systems