Physical counts of inventory: A. Are not necessary under the perpetual system. B. Are necessary to adjust for shrinkage. C. Should be taken at least once a month. D. Are necessary to adjust for shrinkage and should be taken at least once a month. E. Are not necessary under the perpetual system and should be taken at least once a month. Goods in transit are automatically included in inventory. True False Damaged goods are not counted in inventory if they cannot be sold. True False Goods consignment are goods shipped by their owner, called the consignee, to another party called the consignor. True False If obsolete or damaged goods can be sold, they will be included in inventory at their net realizable value if it is less than cost. True False