Adepartment store uses a perpetual inventory system. at year-end, it shows a balance in the merchandise inventory account of $2 million. assuming that the inventory records have been maintained properly, a year-end physical inventory a : will confirm that a perpetual inventory system was used correctly. b : will most likely indicate more than $2 million in merchandise on hand. c : will show that a periodic inventory system should be implemented. d : will most likely indicate less than $2 million in merchandise on hand due to unrecorded handling and related losses.
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