Identify whether the following are benefits of using a perpetual inventory system (in comparison to a periodic
Question:
Potential benefitT rue/False
A perpetual system is less costly than a periodic system.
A perpetual system produces information that is more useful for inventory management.
A perpetual system helps to estimate expected amounts of inventory at year-end.
A perpetual system allows a company to avoid conducting costly inventory counts.
A perpetual system is required by IFRS and ASPE.
A perpetual system helps to determine the amount of shrinkage.
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Potential benefit True False A perpetual system is less costly than a periodic system F A ...View the full answer
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