The perpetual inventory system keeps a running computerized record of inventory and cost of goods sold.

Question

Quizplus · Accepted Answer

The statement is true. The perpetual inventory system provides a real-time record of inventory and cost of goods sold by continuously updating inventory levels with each sale, purchase, or return. This allows businesses to have accurate and up-to-date information on their inventory levels, helping them make informed decisions about purchasing, pricing, and sales.

The Perpetual Inventory System Keeps a Running Computerized Record of Inventory