How are periodic and perpetual inventory systems different?

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?

• Explain the differences between a service company and a merchandising company’s

income statement.

• Prepare the journal entries showing (1) the sale of merchandise on credit, including

credit terms, (2) the receipt of a partial return of the sale from the customer, and (3) the

payment by the customer within the discount period.

Guided Response: Respond to at least two of your classmates by commenting on their posts.

Though two replies are the basic expectation for class discussions, for deeper engagement and

learning you are encouraged to provide responses to any comments or questions others have

given to you. Continuing to engage with peers and the instructor will further the conversation

and provide you with opportunities to demonstrate your content expertise, critical thinking,

and real-world experiences with the discussion topics.

Dq2

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.

• Explain the four merchandise inventory methods.

• Prepare 4 charts using the four different inventory methods using the following

transactions:

o Purchase 25 items at $10.00

o Sell 10 items at $20.00

o Purchase 15 items at $15.00

o Sell 20 items at $20.00

• Use the chart format as illustrated on page 327, Exhibit 6-3

Guided Response: Respond to at least two of your classmates by commenting on their posts.

Though two replies are the basic expectation for class discussions, for deeper engagement and

learning you are encouraged to provide responses to any comments or questions others have

given to you. Continuing to engage with peers and the instructor will further the conversation

and provide you with opportunities to demonstrate your content expertise, critical thinking,

and real-world experiences with the discussion topics.