Question

Normally used for relatively inexpensive goods. b. Keeps a running computerized record of merchandise inventory. c. Achieves better control over merchandise inventory. d. Requires a physical count of inventory to determine the quantities on hand. e. Uses bar codes to keep up-to-the-minute records of inventory.

Answer 1

The correct answers are:

A. Periodic inventory system; B. Perpetual inventory system.; C. Perpetual inventory system; D. Periodic inventory system; E. Perpetual inventory system.

Step-by-step explanation:

The periodic inventory system is based on the application of a scheduled inventory control every certain period of time and that it is mandatory to make a physical count of the products stored and those that are waiting to be sold, as well as those already sold , returned or in the process of delivery.

Because it is a previously scheduled inventory, only after its execution on the scheduled date can the company know exactly what its merchandise inventory is.

The permanent inventory system provides a higher degree of control than the periodic system, because the inventory information is always up to date. This system is also called perpetual inventory system and in it the inventory accounts and databases They are updated automatically each time a product is received or sold.