Ask Question
BusinessBusiness
7 March, 11:49

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

+4
Answers (1)
  1. 7 March, 12:02
    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?
Find an answer to your question 👍 “What is the major difference between a periodic and a perpetual inventory system? ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
While changing her tire, marguerite bumped the hubcap and all of the lug nuts fell into a storm sewer.
Answers (1)
What is the effect of a federal budget surplus? As a result of the federal budget surplus, the A. supply curve for loanable funds will shift to the left. B. supply curve for loanable funds will shift to the right. C.
Answers (1)
When studying abroad last year, Blake found that his U. S. dollars did not stretch as far as he had hoped. Each time he exchanged U. S. dollars for euros, he gave up more U. S. dollars in exchange for less euros. The exchange rate indicates: ___.
Answers (1)
People who buy houses in good-weather locations receive this benefit absolutely for free.
Answers (1)
n the country of Wiknam, the velocity of money is constant. Real GDP grows by 3 percent per year, the money stock grows by 8 percent per year, and the nominal interest rate is 9 percent. What is the growth rate of nominal GDP
Answers (1)
New Questions in Business
Alpha Company sold goods to customers who used Under-the-Hill bank credit cards. Credit card sales on July 8, 2016 amounted to $12,000 and were subject to a 2.5% bank fee.
Answers (1)
Osborn Company's unadjusted book balance at June 30, 2014 is $7,800. The company's bank statement reveals bank service charges of $45.
Answers (1)
Which of the following is a correct formula when markup is based on selling price? a Dollar markup X Selling price = Percentage markup b Dollar markup + Percentage markup = Selling price c Dollar markup - divide by-Percentage markup =
Answers (1)
Knorr issues 1,000 shares of $2 par value common stock for $10 per share. The journal entry to record this transaction will include which of the following?
Answers (1)
joan made deductible contributions to traditional retirement accounts for several years. in 2018 she decided to withdraw $10,000 from one of her accounts. joan is 62 years old how does this transaction affect her 2018 tax return
Answers (1)
Home » Business » What is the major difference between a periodic and a perpetual inventory system?
Sign Up Forgot Password?