Ask Question
BusinessBusiness
17 February, 01:45

What is the major difference between a periodic and a perpetual inventory system?

+3
Answers (1)
  1. 17 February, 05:19
    0
    Answer: The major difference is the number of times inventory record are taken to ascertain inventory balance.

    Explanation:

    In periodic inventory system, the inventory records are physically checked seasonally to know final balance of inventories and price of items sold in the warehouse while in perpetual inventory system a regular inventory check is done to determine balance of inventories and price of items sold in the warehouse.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “What is the major difference between a periodic and a perpetual inventory system? ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Shareholder of c corporation receiving property distribution must recognize dividend income equal to the fair market value of the distributed property if the distribution corporation has sufficient earning and profit. True / False.
Answers (1)
Is it appropriate to think of all of australia as a single geographic market for natural gas? if so, explain why.
Answers (1)
David has requested a raise and brianna, the hr manager, has to tell david that his request has been denied. what is the best way for brianna to inform david that he will not be receiving a raise?
Answers (2)
Business has been good! As a result, Benjamin has a total of $25,000 in bonus pay to distribute to his employees. One option for distributing bonuses is to give each employee (including himself) $2,500.
Answers (1)
List at least three questions you should ask yourself to make sure you are ready to rent.
Answers (2)
New Questions in Business
The RST Company makes 38,000 parts to be used in its main products. The cost per part at this activity level is: Direct materials $ 6.50 Direct labor $ 6.60 Variable manufacturing overhead $ 3.75 Fixed manufacturing overhead $ 3.
Answers (1)
Which of the following would not be included in calculating the incremental cash flow for a project? The firm expects sales of the new product to be $5,000,000 per year.
Answers (1)
Compute the present value of a perpetuity that pays $ 13,385 annually given a required rate of return of 9 percent per annum. (Round your answer to 2 decimal places; record your answer without commas and without a dollar sign).
Answers (1)
Ashley opened an all-you-can-eat buffet restaurant. the price per-person was based on what ashley believed an average restaurant patron would consume. the restaurant began to lose money.
Answers (1)
Temporary disability: Is the state that exists when it is probable that an injured worker, who is currently unable to work, will be able to resume gainful employment with no or only partial disability?
Answers (2)
Home » Business » What is the major difference between a periodic and a perpetual inventory system?
Sign Up Forgot Password?