Using your own examples, please explain the differences between periodic and perpetual inventory systems. You may apply your examples to the case of Dino's After School.

Using your own examples please explain the differences between LIFO, FIFO, and Weighted Average as forms of inventory valuation.

On April $1,2017$ after the end of the first quarter, Dino's After School had $$4,780$ worth of inventory. On April $12,$ they purchased $$6,000$ more in inventory. Sales began to slow$-$down, so on May $12$ they purchased only $$2,000$ worth of inventory. On June $20,$ with the start of summer and more customers making purchases, they purchased $$9,000$ more in inventory. They sold $$17,500$ worth of inventory during the second quarter.