Short Exercises S-F:5-1 Comparing periodic and perpetual inventory systems (Learning Objective 1) For each statement below, identify whether the statement applies to the periodic inventory system, the perpetual inventory system, or both. a. Normally used for relatively inexpensive goods. b. Keeps a running computerized record of merchandise inventory. c. Achieves better control over merchandise inventory. d. Requires a physical count of inventory to determine the quantities on hand. e. Uses bar codes to keep up-to-the-minute records of inventory. S-F:5-2 Journalizing purchase transactions (Learning Objective 2) Consider the following transactions for Toys and More