Question

Q 6.4: in 2017, garret market remained fully open while conducting inventory, but in 2018 garrett closed during inventory. in 2019, garrett remained open but sold only a small selection of items during inventory. based on this information, in which years did garrett have the most and least accurate inventories?

Answer 1

The answer are:

• 2018 most accurate inventory
• 2017 least accurate inventory

Step-by-step explanation:

Garret Market uses a periodic inventory system (updates are made on a periodic basis) and in order to carry out this process correctly, the inventory should remain closed. Only in 2018 was the inventory closed, so it should be the most accurate. In 2017 the store remained fully opened and inventory was modified daily, so it should be the least accurate.