Which of the following is false regarding the perpetual inventory system? The adjustment account is...
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Accounting
Which of the following is false regarding the perpetual inventory system? The adjustment account is Inventory Over & Short. It updates the Inventory account with each purchase and sale. A credit to Inventory is made when a sale occurs. A credit to Sales Revenue is made when a sale occurs. A debit to Purchases is made when a purchase occurs. 
Which of the following is false regarding the perpetual inventory system?
The adjustment account is Inventory Over & Short.
It updates the Inventory account with each purchase and sale.
A credit to Inventory is made when a sale occurs.
A credit to Sales Revenue is made when a sale occurs.
A debit to Purchases is made when a purchase occurs.
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You can see the logs in the Dashboard.