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n your initial post, present a detailed explanation of the recording of purchases under a perpetual inventory system. Use hypothetical figures to illustrate the perpetual inventory system. After presenting your hypothetical figures, discuss how a perpetual inventory system is different from a periodic inventory system. Your answer should illustrate understanding of the perpetual inventory system.
Discussion Post #3 Week 1 Jordan M. Hill BUS 591 Financial Accounting & Analysis Instructor: Dr. Havel October 28, 2019
Under a perpetual inventory system, a company will record the cost of each inventory purchase and sale, thus determining the cost of goods sold each time a sale occurs (Kimmel, Weygandt, Kieso, 2019, Perpetual System para. 1). This is in contrast to the periodic...