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Which of the following statements regarding the periodic and perpetual inventory systems is correct? A. Inventory...

Which of the following statements regarding the periodic and perpetual inventory systems is correct?

A. Inventory is updated after each sale under the periodic method

B. Under the periodic method, the amount of inventory is not known until the end of the period when an inventory count is taken

C. Inventory on hand is determined by a physical count only under the perpetual method

D. The primary advantage of the periodic method is that it maintains detailed transaction-by-transaction records.

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