The two main types of inventory accounting systems are:

Question

Quizplus · Accepted Answer

The two main types of inventory accounting systems are perpetual and periodic. Perpetual inventory accounting systems maintain a continuous record of inventory levels and cost of goods sold, while periodic inventory accounting systems only update inventory levels and cost of goods sold at specific intervals, typically at the end of each accounting period. Therefore, option B is the correct answer.

The Two Main Types of Inventory Accounting Systems Are