Identify Whether the Following Are Benefits of Using a Perpetual

Essay

Identify whether the following are benefits of using a perpetual inventory system (in comparison to a periodic system).
$\begin{array} { | l | l | } \hline \text { Potential benefit } & \text { True/False } \\\hline \text { A perpetual system is less costly than a periodic system. } & \\\hline \text { A perpetual system helps to estimate expected amounts of inventory at year- } & \\\text { end. } & \\\hline \text { A perpetual system is required by IFRS and ASPE. } & \\\hline \text { A perpetual system helps to determine the amount of shrinkage. } & \\\hline\end{array}$