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I have to finish my homework but I'm having difficulties with it. We are studying the perpetual inventory system and the periodic inventory system. Some

I have to finish my homework but I'm having difficulties with it.

We are studying the perpetual inventory system and the periodic inventory system. Some questions: what is the difference between the two systems? What is involved with using each system? Which do you think is more common and why? How does FIFO, LIFO and Weighted Average differ? How are they alike? Why don't companies use specific identification more often? Why is this method rare?

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