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Part $1$

When accounting for a merchandising$$ business, which of the following is$$ TRUE?

Question content area bottom

Part $1$

A$.$

Retailers and wholesalers may use either the perpetual or periodic inventory system.

B$.$

Wholesalers must use the periodic inventory system.

C$.$

Wholesalers must use the periodic inventory$$ system; retailers may use either the perpetual or periodic inventory system.

D$.$

Retailers must use the perpetual inventory system.