Which of the following statements regarding inventory systems is CORRECT? a) In a periodic inventory system, cost of goods sold is developed from a comparison of beginning inventory and ending inventory only. b) In a perpetual inventory system, the inventory account is NOT updated for each purchase during the accounting period. c) The periodic inventory system requires more record keeping to maintain in a manual book keeping system, compared with the perpetual inventory system. d) In a periodic inventory system, cost of goods sold is computed and recorded at every sale during the accounting period. e) In a perpetual inventory system, cost of goods sold is recorded at the time of each sale during the accounting period