Anthony Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.
periodic takes place on an irregular schedule where perpetual is a constant state of inventory
Perpetual system Perpetual system
a thing that goes on and on
Perpetual
no
periodic takes place on an irregular schedule where perpetual is a constant state of inventory
Perpetual system Perpetual system
perpetual
a thing that goes on and on
no
Perpetual
Yes
inventory
Purchases
Perpetual System is that system in which company continuously updates the value of inventory while in periodic system inventory valuation is done only for closing inventory when company done physical inventory calculation.
The discounts reduce the cost of the merchandise inventory.
A perpetual system does not account for theft.