Difference between the periodic and perpetual process
What is the main difference between the periodic and perpetual process, how will you record it in your note-book?
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The periodic inventory system adjusts inventory and records costs of goods merely at the end of each and every reporting period. As you have to count you’re ending inventory by the hand. Perpetual inventory system constantly records both modifications in inventory costs and inventory quantity.
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What does Balance per bank signify?
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