A perpetual inventory system will always give updated balances for:
A) Inventory and Cost of Goods Sold.
B) Inventory and Sales Revenue.
C) Goods Available for Sale and Sales Revenue.
D) Accounts Receivable and Inventory.

Question

Quizplus · Accepted Answer

A perpetual inventory system tracks inventory levels in real-time, which means that it always provides updated balances for both inventory and cost of goods sold. This is because the system records each purchase and sale of inventory items as they occur, allowing for a continuous calculation of the cost of goods sold and the remaining inventory balance. The other choices mentioned are not directly related to inventory tracking in a perpetual inventory system.

A Perpetual Inventory System Will Always Give Updated Balances For