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6 There are two different merchandise inventory accounting systems available to management A perpetual inventory system and a periodic inventory system. Accounting can be understood
6 There are two different merchandise inventory accounting systems available to management A perpetual inventory system and a periodic inventory system. Accounting can be understood as a means for management to perform (or discharge) his/her managerial responsibility based on stewardship to those (stockholders) who have entrusted him/her with their economic resources (usually "money"). Explain each of the two merchandise inventory systems can serve more to perform stewardship to the original owners. Your answer is presented in the following way: I think that a perpetual inventory system can serve more to perform stewardship because ............... I think that a periodic inventory system can serve more to perform stewardship because 2 Note Recall a series of journal entries to be required under each of the inventory accounting systems, compare the journal entries under the two systems, and consider what the journal entries means as a whole. Try to present your answer conceptually (with reference to basic key concepts). Don't explain the difference in journal entries between the two system. Rather, you should think what is meant by the difference. Answer for problem 6-1 (6) Answer for problem 6-2 (6)
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