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Which statement on inventory and inventory systems is not correct? inventory is typically held for sale by merchandisers under the periodic inventory system, Cost of

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Which statement on inventory and inventory systems is not correct? inventory is typically held for sale by merchandisers under the periodic inventory system, Cost of Goods Sold is determined by conducting a physical count of ending inventory on the shelf and then subtracting that amount from total available for sale in a period under the perpetual method system inventory accounts are updated at the time of purchase and sale of any inventory All statements are correct

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