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    Question

    The type of inventory system where inventory records are

    continuously updated is:
    A Periodic system Correct Answer Incorrect Answer
    B Perpetual system Correct Answer Incorrect Answer
    C FIFO method Correct Answer Incorrect Answer
    D LIFO method Correct Answer Incorrect Answer
    E Weighted average method Correct Answer Incorrect Answer

    Solution

    • Perpetual system: Continuous tracking of stock (in/out) using ledgers, barcodes, ERP systems. Physical count only for verification. • Periodic system: Updates only at intervals via stock-taking.  Perpetual ensures real-time inventory control, essential in modern supply chains.

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