on 9 A perpetual inventory system ed Tout of Select one: A. Is not widely used in practice B. Uses a Purchases account for the cost of new merchandise purchased C. Gives a continuous record of the amount of inventory on hand O D. Was historically used by companies that sold large quantities of low-value items E. All of the above Generally accepted accounting principles require that the inventory of a company be reported at: Select one: A. Replacement cost B. Historical cost OC. Net realizable value e D. Purchase price O E. Lower of cost and net realizable value