Can someone do this accounting assignment please
The perpetual inventory system tracks the movement of stock in real time, making it easier for companies to manage their inventory levels and keep up with customer demands. It is also beneficial for providing accurate financial records, as all purchases and sales are tracked continuously. This helps facilitate efficient tax reporting. Periodic inventory systems only track transactions at specific intervals (such as monthly or quarterly). The main difference between these two methods is in the frequency of updates.
Perpetual systems provide an ongoing snapshot into a company’s stock while periodic systems only update this information periodically, so they may not provide an accurate picture over extended periods of time. Companies are increasingly using perpetual inventory systems because it allows them to more accurately forecast demand and better monitor supplier performance, leading to greater efficiency throughout their supply chain processes.