A perpetual inventory system
A) only records the inventory on hand at the end of the year physical count
B) keeps a continuous record of the physical quantities of inventory on hand
C) does not maintain a continuous record of the physical quantities of inventory on hand
D) does not maintain a continuous record of the cost of inventory on hand

Question

Quizplus · Accepted Answer

A perpetual inventory system maintains a continuous, real-time record of the physical quantities of inventory on hand, updating for each purchase and sale.

A Perpetual Inventory System