You Are the Accountant for a Large Grocery Store That

Essay

You are the accountant for a large grocery store that uses a periodic inventory system.In a recent meeting, the owner of the store mentioned to you that he had heard that a perpetual inventory system might have some managerial advantages.He asked you to prepare a memo explaining the differences between periodic and perpetual inventory systems, how the change would alter the work that must be done and what advantages a perpetual system might bring.
Required:
Prepare the memo requested by your client.