the differences between journals in the perpetual and periodic inventory systems. ICE Activities Task 2: Recording in journals in a periodic system ! You may ask a friend to join you in completing this particular activity. You and your friend are bookkeepers. The owner of a business by the name of Siyard Books has requested you to assist him with the recording of the transactions for the month of August 20.7. As a business, Siyard Books: . Uses the periodic inventory system; Is a registered VAT vendor and trades only with registered VAT vendors; Charges 15% VAT on all its sales and all amounts provided are inclusive of VAT unless VAT is not applicable.