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5 November, 13:59

In a perpetual inventory system:

a. Merchandise Inventory is debited every time inventory is purchased

b. cost of Goods Sold is debited every time inventory is sold

c. a physical inventory is taken at least annually

d. All of the above.

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  1. 5 November, 16:48
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    b. cost of Goods Sold is debited every time inventory is sold
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