Problem: A retail inventory system:
a. provides the internal control of a periodic inventory system.
b. cannot be used if inventory purchases are made at different costs during the period.
c. records inventory purchases by debiting Inventory for the cost of the merchandise and crediting Accounts Payable for the selling price of the merchandise.
d. calculates a cost-to-retail percentage by dividing sales at retail dollars by cost of goods available at cost dollars.
e. allows for the determination of inventory losses during the period.