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Business, 21.12.2019 01:31 Saberabuomar2007

Which of the following is not true of the perpetual inventory method? a. purchases are recorded as debits to the inventory account. b. the entry to record a sale includes a debit to cost of goods sold and a credit to inventory. c. after a physical inventory count, inventory is credited for any missing inventory. d. purchase returns are recorded by debiting accounts payable and crediting purchase returns and allowances.

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Which of the following is not true of the perpetual inventory method? a. purchases are recorded as...

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