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17 February, 01:45

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

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  1. 17 February, 05:19
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    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.
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