Answered Questions

  • Feb 22 2006
    10:26 AM
    20898
    27

    What is the difference between Perpetual & Periodic Inventory system?
    • johnmathew986

    Mahmood

    • Sep 11th, 2014

    Perpetual is used for daily record or record as up to date of a good sold.. And Periodic is used for a long or a period ended record, periodic is used for a period of 1 month , 6 months or a year.. I hope u understood the difference between both.. Mahmood Latif..

    Sikander Riaz

    • Jul 6th, 2012

    In periodic costing we come to know about the cost incurred at the end of the time period, whereas in perpetual cost we know about the cost incurred at each and every moment. Perpetual inventory system uses LIFO,FIFo and average cost method