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QUESTION THREE [5] A perpetual inventory system is implemented at TRADERS (Pty) Ltd. The balance carried forward for the financial period amounted to R13 000.

QUESTION THREE [5] A perpetual inventory system is implemented at TRADERS (Pty) Ltd. The balance carried forward for the financial period amounted to R13 000. The total purchases amounted to R20 000 with sales of R18 500. Management considers changing to a periodic inventory system and requested an explanation from you on how the transaction recording would be affected. (5)

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