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PART A 5 Marks a. Which inventory system do you consider most efficient periodic or perpetual? And why? 2 Marks b. What is the effect of errors in valuing final inventory every year. Consider the following information for Ajax Ltd: 2019: Ending inventory was overvalued by $45 600 2020: Ending inventory was undervalued by $42 000 i. What effects would these errors have on the profit figure and ending asset balances for 2 Marks each year; ii. Calculate the cumulative effect of the errors on profit over the two year period. 1 Mark