Question

Under a perpetual inventory system, the amount of each type of merchandise on hand is available in the ________.

1) balance sheet
2) income statement
3) trial balance
4) inventory record

Answer 1

Under a perpetual inventory system, the amount of each type of merchandise on hand is available in the inventory record.

Step-by-step explanation:

Under a perpetual inventory system, the amount of each type of merchandise on hand is available in the inventory record. The inventory record is a detailed, up-to-date account of the quantity and cost of merchandise that a company has at any given time.