please answer each question. please explain in way that it make sense to someone whos new to the subject. please no cursive :))))

1. Before inventory purchases are recorded, the receiving report should be reconciled to what documents? 2. Why is it important to take a physical inventory periodically when using a perpetual inventory system? 3. Do the terms FIFO, LIFO, and weighted average refer to techniques used in determining quantities of the various classes of merchandise on hand? Explain. 1. Before inventory purchases are recorded, the receiving report should be reconciled to what documents? 2. Why is it important to take a physical inventory periodically when using a perpetual inventory system? 3. Do the terms FIFO, LIFO, and weighted average refer to techniques used in determining quantities of the various classes of merchandise on hand? Explain