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Which of the following statements about a periodic inventory system is not correct? Select one: A. The system does not include an up-to-date inventory ledger.
Which of the following statements about a periodic inventory system is not correct?
Select one:
A.
The system does not include an up-to-date inventory ledger.
B.
These systems are used primarily by small businesses with manual accounting systems.
C.
The balance in the Inventory account remains unchanged until the end of the period.
D.
The Cost of Goods Sold account is updated as sales transactions occur.
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