9 8.75 points 01:53:50 eBook References Identify whether each description best applies to a periodic or a perpetual inventory system. Description a. Revenue is recorded when merchandise is sold but not cost of goods sold. b. Provides more timely information to managers. c. Gives managers immediate access to detailed information on inventory levels. d. Cost of goods sold is recorded at the end of the period when an inventory count is performed. e. Requires an adjusting entry to record inventory shrinkage. Inventory system Periodic inventory system Perpetual inventory system