Question: What is the primary difference between a periodic inventory system and a perpetual inventory system? A ) Periodic systems update inventory after each sale. B

What is the primary difference between a periodic inventory system and a perpetual inventory system?
A) Periodic systems update inventory after each sale.
B) Perpetual systems update inventory at the end of each accounting period.
C) Periodic systems do not maintain a continuous record of inventory.
D) Perpetual systems do not require physical inventory counts.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!