Hello,
I need to answer the question and comment on the answers
that my classmates’ gave.
QUESTION: (80-100 WORDS)
Perpetual or Periodic Inventory?
Hello Everyone!
Which inventory system is more popular
today than prior to the mid-1960s? Why do you believe that this particular
system is more popular today? Why would a company employing a perpetual
inventory system still take a physical inventory periodically?
See the question above! This is a great
question because it allows us to discuss real life inventory and the effects of
technology. It will take a bit of thought, but some of you might remember
when your company changed from one method to the other.
NAI’S ANSWER: (50 WORDS)
I use to work in a warehouse many years ago and
we used a perpetual inventory system. Every morning we would do a quick
inventory of all of the supplies. Once a Month, we would do a periodic
inventory as well. Using the perpetual helped us reorder supplies quicker. if
we waited until the end of the month, we may run out of a product. A perpetual
system allows a company to have more control over inventory and is much more
popular today.
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