Question: 5. Mrs. SeaHawk is evaluating inventory. She needs you to refresh her memory on the types of inventory systems. 1. Explain the perpetual system and

5. Mrs. SeaHawk is evaluating inventory. She needs you to refresh

5. Mrs. SeaHawk is evaluating inventory. She needs you to refresh her memory on the types of inventory systems. 1. Explain the perpetual system and give an example. | 2. Explain the periodic system and give an example. 3. Lastly, give her an idea of the differences in the systems (based on Chapter 15 reading). What is your recommendation? (Chapter 15) 6. Mrs. Seahawk prepared a calculation of depreciation on a piece of equipment. The equipment cost $60,000 and has a useful life of 5 years. You noticed on her calculation that she stated the straight-line depreciation for one year (assuming zero salvage value) is $10,000 per year. Is she right or wrong? Defend your position (as applicable). (Chapter 16)

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