Question: Which statement below is true concerning a perpetual inventory system? It is used infrequently due to the high cost of determining the cost of goods

Which statement below is true concerning a perpetual inventory system?

It is used infrequently due to the high cost of determining the cost of goods acquired. It allows for the determination of cost of goods sold after each sale. Cost of goods sold is determined based on a physical count at the end of the period. It does not require a physical inventory count to verify the cost of goods on hand.

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