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Periodic and perpetual inventory systems


Problem 1. What are the similarities and differences between periodic and perpetual inventory systems?

Problem 2. What types of companies use periodic inventory systems?

Problem 3. What types of companies use perpetual inventory systems?

Problem 4.. What are the basic journal entries used to record inventory transactions?

Problem 5. What are the differences between perpetual and periodic inventory related journal entries?

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Accounting Basics: Periodic and perpetual inventory systems
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