Periodic inventory system and perpetual inventory system are two types of systems used to count inventory. Which of the following statements is cortect regarding the two inventory

B

Under a perpetual inventory system, the actual cost of goods cannot be determined

A periodic inventory system provides a continuous record of the inventory balance.

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A perpetual inventory system updates inventory accounts on a periodic basis.

Under a periodic inventory system, the cost of goods sold is a residual amount that is dependent upon the physical count of the ending inventory.