_____ refers to a type of periodic inventory that conducts a count of the entire inventory being held for sale at a specific point in time.
A) Factoring
B) Perpetual inventory
C) Physical inventory
D) Benchmarking

Question

Quizplus · Accepted Answer

Physical inventory is the process of counting and verifying the actual inventory on hand at a specific point in time. This is typically done periodically, rather than continuously as in perpetual inventory systems. Factors such as seasonal demand, sales trends, and other fluctuations can cause discrepancies between book inventory and physical inventory counts, and physical inventory helps detect and correct such discrepancies.

_____ Refers to a Type of Periodic Inventory That Conducts