Ise Study \#2 1. Answer the following questions: a. Explain the types of inventory and the differences between a perpetual inventory system and a periodic inventory system. b. Discuss the factors affecting a company's choice of inventory method. c. Describe the difference between specific identification, FIFO, LIFO, and average cost. d. If you owned a coffee shop, which inventory tracking method would you use and why? What if you owned a construction company