Question: Under a perpetual inventory system increases in inventory resulting from purchases increase the purchases account. accounting records continuously disclose the amount of inventory. there is

Under a perpetual inventory system
increases in inventory resulting from purchases increase the purchases account.
accounting records continuously disclose the amount of inventory.
there is no need for a year-end physical count.
the account Purchase Returns and Allowances is increased when goods are returned to venc
Under a perpetual inventory system increases in inventory resulting from purchases

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