Question: Determine which inventory method best fits each statement below. Answer 1 PerpetualPeriodic At any point during the period, this method shows the inventory account up

Determine which inventory method best fits each statement below.
Answer 1PerpetualPeriodic At any point during the period, this method shows the inventory account up to date.
Answer 2PerpetualPeriodic This method uses a purchases account.
Answer 3PerpetualPeriodic This method uses a separate loss on shrinkage for inventory lost in the period, rather than including in COGS.
Answer 4PerpetualPeriodic This method requires an adjusting entry at the end of each period to record COGS.

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