Your client, Mr. Spools is planning on opening up a convenience store in your area. However, he is unaware of the inventory process and requires your consultation. During the installation process, you need to determine if Mr. Spools should use the perpetual or periodic inventory system.Illustrate at least one example using the perpetual and periodic inventory system that Mr. Spools' store will most likely experience.

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Illustration using the perpetual inventory system With the perpetual inventory system a record of ea... View the full answer