Please help to answer this question Explain if the Perpetual or the Periodic Inv

Question

Please help to answer this question Explain if the Perpetual or the Periodic Inventory Systems method would be used for company with higher valued inventory. (Review pages 253 to 255) on ch5,6 Financial accouting.
Please help to answer this question Explain if the Perpetual or the Periodic Inventory Systems method would be used for company with higher valued inventory. (Review pages 253 to 255) on ch5,6 Financial accouting.
Explain if the Perpetual or the Periodic Inventory Systems method would be used for company with higher valued inventory. (Review pages 253 to 255) on ch5,6 Financial accouting.

Explanation / Answer

Perpetual inventory system is used by companies with higher valued inventory. Under the perpetual system, purchases, purchase returns and allowances , purchase discounts, sales , and sales returns are immediately recognized in the inventory account so the inventory account always remains accurate.

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