a . To determine cost of goods sold .
b . To determine sales revenue .
c . To determine merchandise returns .
d . Inventories are not included in the computation of net income .
25 . Which of the following is a characteristic of a perpetual inventory system ?
a . Inventory purchases are debited to a Purchases account .
b . Inventory records are not kept for every item .
c . Cost of goods sold is recorded with each sale .
d . Cost of goods sold is determined as the amount of purchases less the change in inventory .