A physical count of inventory is taken at the end of an accounting period under a perpetual system in order to
a. verify the accuracy of the accounting records.
b. determine cost of goods sold for the period.
c. determine the amount of inventory purchased during the period.
d. calculate property taxes.
a. verify the accuracy of the accounting records.
b. determine cost of goods sold for the period.
c. determine the amount of inventory purchased during the period.
d. calculate property taxes.