A physical count of inventory is performed annually in both a perpetual inventory system and a periodic inventory system.

Name: A physical count of inventory is performed annually in both a perpetual inventory system and a periodic inventory system.
Brand: Quizplus
Rating: 4.9 (53 reviews)

Question

Quizplus · Accepted Answer

This statement is true. Regardless of the inventory system used, it is important to perform a physical count of inventory on an annual basis in order to verify the accuracy of the inventory records and detect any discrepancies.

A Physical Count of Inventory Is Performed Annually in Both