Match the inventory systems with the appropriate statement. \begin{tabular}{ll} Prompts & Submitted Answers \\ \hline Uses a separate account for recording purchases & Choose a match \\ \hline \end{tabular} Requires that purchases be recorded at their cash equivalent cost The periodic inventory system Requires that two concurrent journal entries be made to record a The perpetual inventory system purchase Cost of goods sold cannot be determined until a physical count is taken Both the perpetual and periodic inventory systems Neither the perpetual nor the periodic inventory systems Cost of goods sold are recorded at the same time as Lnoose a matcn revenues are. Inventory account is increased for each purchase and decreased for Choose a match each sale