If a perpetual inventory system is in use $\_\_\_\_\_\_$blank.

multiple choice

a physical inventory count is not required because the Inventory account is updated for each purchase and sale.

a physical inventory count is not required because the Inventory account is updated every time a transaction or event occurs.

a physical inventory count should be taken at least annually.

a physical inventory count is required because the Inventory account is not updated when inventory is purchased or sold.