ACC 205 Week 3 Discussion 1 Periodic and Perpetual Inventory Systems (2019)

Periodic and Perpetual Inventory Systems [WLOs: 1, 2, 3, 4] [CLOs: 1, 2, 3]. 1st Post Due by Day 3. Prior to beginning work on this discussion, read Chapter 5 in the textbook. In addition, the MyLab materials listed in the Recommended Resources section this week may provide more in-depth information for this discussion (optional). 

Write: Make sure your response addressing the following questions is more than 200 words and that you include an in-text citation or a brief quote from the reading material where appropriate. 

• How are periodic and perpetual inventory systems different?
   
• Why does a merchandising company prepare a cost of goods section for the income statement?
   
• Provide an example of a perpetual cost of goods section.