You own a clothing store and use a periodic inventory system. Research like companies in the clothing

Question:

You own a clothing store and use a periodic inventory system. Research like companies in the clothing industry and answer the following questions.
• Which inventory system is most used in clothing stores, periodic or perpetual?
• Why can periodic inventory reporting be a better approach to use than perpetual inventory reporting  for this type of industry?
• What are some of the advantages and disadvantages to the periodic inventory method?
• What other types of businesses may use the periodic inventory method rather than the perpetual method?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Principles Of Accounting Volume 1 Financial Accounting

ISBN: 9781593995942

1st Edition

Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax

Question Posted: