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Which of the following is true about the periodic inventory system? a. A...

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Accounting

Which of the following is true about the periodic inventory system?
a. A physical count of inventory is taken at the end of the period.
b. Purchases of inventory are recorded in the inventory account.
c. Purchases returns are recorded in the purchases account.
d. There is a detailed record of the amount of inventory on hand at any given time.

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