Merchandise inventory includes: Multiple Choice O All goods owned by a company and held for sale. All goods in transit. All goods on consignment. Only damaged goods. Only non-damaged goods. Physical counts of inventory: Multiple Choice Are not necessary under the perpetual system. O Are necessary to adjust the Inventory account to the actual inventory available. Must be taken at least once a month. O Requires the use of hand-held portable computers. Are not necessary under the cost to benefit constraint