$1.$ Introduction: Provide a brief overview of inventory management and its significance.

$2.$ Perpetual Inventory System

$$ Specific Identification:

o Define and explain the specific identification method.

o Provide real$-$world examples.

o Evaluate the advantages and disadvantages of this method.

$$ First in$,$ First out $($FIFO$)$:

o Define and explain the FIFO method.

o Discuss its application in inventory management.

o Compare and contrast FIFO with specific identification.

o Analyse scenarios where FIFO is most suitable.

$$ Weighted Average:

o Define and explain the weighted average method.

o Demonstrate the calculation of the weighted average cost per unit.

o Discuss scenarios where this method is advantageous.

o Provide examples of industries that commonly use the weighted average method.

$3.$ Periodic Inventory System:

$$ Specific Identification:

o Discuss how specific identification works under the periodic inventory system.

o Highlight differences from the perpetual system.

$$ First in$,$ First out $($FIFO$)$:

o Explain the application of FIFO in the periodic inventory system.

o Discuss challenges and benefits.

$$ Weighted Average:

o Explore how the weighted average method is applied in the periodic inventory system.

o Discuss limitations and advantages.

$4.$ Comparison and Analysis

$$ Compare the perpetual and periodic inventory systems.

$$ Analyse the strengths and weaknesses of each system.

$$ Discuss the impact of each method on financial statements.

$$ Provide recommendations for businesses based on the analysis.

$5.$ Conclusion:

$$ Summarise the key findings of the project.

$$ Highlight the importance of choosing the right inventory valuation method for

businesses.