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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Week 5: Inventory Management

Week 5: Inventory Management

Q Based on your readings of Chapter 6, discuss with examples the two methods of inventory control. Which method do you think is better for a retail store with several items of small value?

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There are two inventory methods periodic and perpetual inventory which are used to control and manage the inventory. Purchases account is used when an inventory is purchased and the inventory account balance is updated only at the end of each accounting period.