"You Decide" Essay
You Are the Inventory Accounting Manager at XB

"You Decide" Essay
You are the inventory accounting manager at XB Tools.Your company is considering the purchase of software that would allow the company to switch from the periodic inventory system to a perpetual system.Prepare a compare and contrast table to summarize the similarities and differences between the two systems.(Use the table that has been started for you below. )
$\begin{array}{|l|l|l|l|}\hline & \text { Characteristic/System } & \text { Perpetual System } &\text { Periodic System } \\\hline \text { a. } & \text { Entry to record credit purchases } & & \\\hline \text { b. } & \text { How purchase discounts are recorded } & & \\\hline \text { c. } & \text { Entry to record sale } & & \\\hline \text { d. } & \text { Entry to record Cost of GoodsSold } & & \\\hline \text { e. } & \text { Up-to-date inventory balance? } & & \\\hline \text { f. } & \text { Physical inventory required? } & & \\\hline & & & \\\end{array}$