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Q33 Answer the following questions: (a) What is the primary difference between a periodic inventory system and...

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Advance Math

Q33 Answer the following questions:

(a) What is the primary difference between a periodic inventorysystem and a perpetual inventory system? [2 Marks]

(b) A company usually reports on different types of inventory.Elaborate these and explain how they are different. [2 Marks]

DO NOT WRITE THE ANSWERS - USE WORD FORMAT.

NO PLAGIARISM IN THE ANSWERS PLEASE

Answer & Explanation Solved by verified expert
4.4 Ratings (980 Votes)
The main difference between these two methods of inventory system as follows In periodic inventory system we can not modify inventory amount but instead adjust for purchases and sales of inventory at    See Answer
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