Detailed records of goods held for resale are not maintained under a

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Quizplus · Accepted Answer

Periodic inventory system records inventory purchases and sales, but does not maintain detailed records of goods held for resale on a day-to-day basis. In contrast, perpetual inventory system keeps a continuous record of inventory levels and updates them in real-time with every transaction. Choices C and D are types of accounting systems and not directly related to inventory tracking.

Detailed Records of Goods Held for Resale Are Not Maintained