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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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.