Identify whether each description best applies to a periodic or perpetual inventory system.

Perpetual A. Provides more timely information to managers.

Perpetual B. Requires an adjusting entry to record inventory shrinkage.

Perpetual C. Markedly increased in frequency and popularity in business within the past decade.

Perpetual D. Records cost of good sold each time a sales transaction occurs.


I am not sure if this is right. I feel that one of them should have been periodic, but each question seem to gravitate towards perpertual. Please help!:confused: