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Which of the following is a characteristic of a perpetual inventory system? Inventory purchases are debited to a Purchases account. Inventory records are not kept
Which of the following is a characteristic of a perpetual inventory system?
Inventory purchases are debited to a Purchases account.
Inventory records are not kept for every item.
Cost of goods sold is recorded with each sale.
Cost of goods sold is determined the amount of purchases less the change in invento
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