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Many organizations fall under the classification of merchandisers and as such their accounting systems must consider some of the special circumstances that apply to this

Many organizations fall under the classification of merchandisers and as such their accounting systems must consider some of the special circumstances that apply to this type of business, particularly regarding valuation of inventory.

  • For the two known inventory systems Perpetual Inventory System and Periodic Inventory System, discuss the following:Identify the advantages and disadvantages of each system.
  • Summarize the cost flow methods used under each system.
  • Describe at least one ethical dilemma that can arise out of physical inventory counts.

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