Asked by Brayan Patlan on Jul 09, 2024
Verified
This system can be costly and time consuming if not computerized.
A)Perpetual
B)Periodic
Perpetual
Continuing indefinitely without interruption; in accounting, it often refers to systems that continuously update inventory or records.
Inventory System
A method or system used to plan, organize, and control the goods or materials that are held in stock, ensuring efficient management and use of inventory.
Costly
Involving high expenses; describing something that requires significant financial outlay.
- Identify the differences and effects on inventory accounting between perpetual and periodic inventory systems.
Verified Answer
Learning Objectives
- Identify the differences and effects on inventory accounting between perpetual and periodic inventory systems.
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