In a seminar, you are reviewing one of your classmates’ responses to the following question:

“What are the basic differences between periodic and perpetual inventory systems?”

Your classmate responded as follows:

“Periodic inventory means counting inventory on specific periods—say weekly, monthly, quarterly, every six months, or annually. Perpetual inventory means counting inventory regularly on a random basis. That means counting a sample of items.”

Required

Identify three ways to substantively improve your classmate’s response.