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?
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Answer 1 In the case of clothing Stores Periodic inventory system is mostly used Answer 2 In clothin...View the full answer
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Related Book For 
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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