Question: under a perpetual inventory system 1. increases in inventory resulting from purchases increase the purchases account 2. the account purchase returns and allowances is increased

under a perpetual inventory system
1. increases in inventory resulting from purchases increase the purchases account
2. the account purchase returns and allowances is increased when goods are returned to vendors
3. accoubtong records continually disclose the amount of inventory
4. there os no need for a year end physical count

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