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Which statement is not correct about perpetual inventory systems? A. A physical inventory count is not required. B. The balance in the Inventory account is always up-to -date. C. Current information is available for cost of goods sold. D. The Inventory account is updated for each purchase and sale.

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Which statement is not correct about perpetual inventory systems? A. A physical inventory count is not required. B. The balance in the Inventory account is always up-to -date. C. Current information is available for cost of goods sold. D. The Inventory account is updated for each purchase and sale.