The merchandise turnover ratio is used to measure profitability. true or false Physical counts of inventory Are not necessary under the perpetual system Are necessary to adjust for shrinkage Should be taken at least once a month Are necessary to adjust for shrinkage and should be taken at least once a month Are not necessary under the perpetual system and should be taken at least once a month The full disclosure principle Multiple Choice Requires that when a change in inventory cost flow assumption is made, the notes to the statements report the type of change Requires that when a change in inventory cost flow assumption is made, the notes to the statements report the justification for the change Requires that any change in net income due to changes in the inventory cost assumption be disclosed Does not require a company to use one cost flow assumption exclusively All of the above