Which of the following is true when a company compares the periodic and perpetual inventory procedures: Multiple Choice 0 Inventory shortages are more easily identified using periodic inventory procedures. 0 When using perpetual inventory procedures, entries to the cost of goods sold are only made at the end of the accounting period. 0 An inventory count is necessary to determine the inventory balance when using periodic inventory procedures. 0 A periodic inventory system is much more expensive to operate than a perptual inventory system. 0 Inventory is constantly updated under periodic inventory procedures