When accounting for a merchandising business, which of the following is TRUE?
A) Wholesalers must use the periodic inventory system.
B) Retailers must use the perpetual inventory system.
C) Wholesalers must use the periodic inventory system; retailers may use either the perpetual or periodic inventory system.
D) Retailers and wholesalers may use either the perpetual or periodic inventory system.
D) Retailers and wholesalers may use either the perpetual or periodic inventory system.
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