codylee8732 codylee8732
  • 03-01-2020
  • Business
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What is the major difference between a periodic and a perpetual inventory system?

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ekeneizuka ekeneizuka
  • 03-01-2020

Answer: The major difference is the number of times inventory record are taken to ascertain inventory balance.

Explanation:

In periodic inventory system, the inventory records are physically checked seasonally to know final balance of inventories and price of items sold in the warehouse while in perpetual inventory system a regular inventory check is done to determine balance of inventories and price of items sold in the warehouse.

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