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Part 1
For each statement below, identify whether the statement applies to the periodic inventory system, the perpetual inventory system, or both.
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Part 1
Periodic inventory system, Perpetual inventory system, or Both?
a.
Normally used for relatively inexpensive goods.
b.
Keeps a running computerized record of merchandise inventory.
c.
Achieves better control over merchandise inventory.
d.
Requires a physical count of inventory to determine the quantities on hand.
e.
Uses bar codes to keep up-to-the-minute records of inventory.