Question: A periodic inventory system Question 6 Answer a . Records the cost of new merchandise purchased in a temporary account b . Does not require

A periodic inventory system
Question 6Answer
a.
Records the cost of new merchandise purchased in a temporary account
b.
Does not require a physical count of inventory
c.
Requires updating the inventory account every month
d.
All of the choices are correct
e.
Records the cost of new merchandise purchased in a permanent account

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