Under a perpetual inventory system, a company should know the quantity and price of its inventory at

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Under a perpetual inventory system, a company should know the quantity and price of its inventory at any moment in time. Given this, why do companies that use a perpetual inventory system still take a physical count of their merchandise inventory at least once a year?

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Financial and Managerial Accounting the basis for business decisions

ISBN: 978-0078111044

16th edition

Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello

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