Which of the following statements is correct: Select one: O a. Under a periodic system, Merchandise Inventory is updated after each sale. b. Cost of goods sold under a periodic system is higher than under a perpetual system. c. Inventory value under a periodic system would be lower than under a perpetual system. d. Under a periodic system, Merchandise Inventory is updated once per period. e. Under a perpetual system, Merchandise Inventory is updated once per period