Identify Whether the Following Are Benefits of Using a Perpetual

question 101

Essay

Identify whether the following are benefits of using a perpetual inventory system (in comparison to a periodic system).
$\begin{array} { | l | l | } \hline \text { Potential benefit } & \text { True/False } \\\hline \text { A perpetual system is less costly than a periodic system. } & \\\hline \text { A perpetual system helps to estimate expected amounts of inventory at year- } & \\\text { end. } & \\\hline \text { A perpetual system is required by IFRS and ASPE. } & \\\hline \text { A perpetual system helps to determine the amount of shrinkage. } & \\\hline\end{array}$

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Definitions:

Judgement

The ability to make considered decisions or come to sensible conclusions.

Competitive Style

A conflict management strategy characterized by a high concern for self-interest and low concern for the interests of others.

Task Oriented

Describes an approach or behavior that is focused primarily on completing tasks, achieving goals, and maintaining productivity.

Creative

Exhibiting the ability to produce original, innovative ideas or outcomes.