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Perpetual inventory and a physical inventory

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Explain what the difference is between a perpetual inventory and a physical inventory. When an organization uses a perpetual inventory system, will the physical inventory on any date be equal to the amount shown by the perpetual inventory account? Why or why not?

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Perpetual inventory and a physical inventory are determined.

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A perpetual inventory system relies on using documents on an active, day-to-day basis for a precise report at any ...

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