Please answer in your own words and the answers can be short just answer the questions thats all. this is the part of one question. please answer all.

1. Under the periodic inventory system, when is inventory recorded in the books and records? When inventory is sold, how and when is the revenue and cost of merchandise sold recorded in the books and records?

2. Under the periodic inventory system, when is a physical inventory taken and when is the cost of inventory sold recorded?

3. Under the perpetual inventory system, when is inventory recorded in the books and records? When inventory is sold, how and when is the revenue and cost of merchandise sold recorded in the books and records?

4. Under the perpetual inventory system, when is a physical inventory taken and when is the cost of inventory sold recorded?