Although a perpetual inventory system is operated, the year-end inventory quantities are arrived at by carrying out a full inventory count at each location. The same set of count instructions are provided at each location. An extract is provided below: i. The inventory count will be supervised by the inventory controller for the location and will take place on 1 January 2022 starting 7:00am. The location will be closed on the day of the count. No sale will take place on 1 January 2022 , however transfer of goods among locations will be allowed to ensure inventory is available where needed most when the locations reopen for business. ii. Staff allocated to the count (one member of staff per count area) will be provided with count sheets that a generated from the computerised system showing the quantity per the system. These will be distributed and collected at the end of the count by the inventory controller. Where the amount counted is different from the amount on the sheet, it should be crossed out and the new quantity written down in ink. iii. The inventory controller will carry out one test count in each area that has been counted. Where an error is found, the area will be re-counted Required c) Explain a perpetual inventory system. (1 mark) Semester 112021/2022 Scanned with CamScann d) Identify and explain FOUR deficiencies in the extract of the inventory counting instructions above. ( 4 marks) e) For each deficiency identified, suggest how it could be mitigated. (4 marks)