Question: Answer the following question: a) Explain in details any four differences between perpetual and periodic inventory method. (4 marks) b) What are the challenges faced

Answer the following question:

a) Explain in details any four differences between perpetual and periodic inventory method. (4 marks)

b) What are the challenges faced by store manager in doing physical inventory count? (2 marks)

c) What are the problems faced in determining the ownership of inventory? How would solve such problem? (4 marks)

b) How petty cash expenses are different from other expenses? (2 Marks)

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