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In this video you'll find out what Perpetual and Periodic Inventory Systems are, and how they differ from one another. We'll cover the Pros and Cons of each before diving into an Accounting example. This episode is part of a mini-series exploring Inventory in Accounting. You can find the link to the whole playlist here ⬇️

🔗Full Inventory Playlist →    • Accounting for INVENTORY (Mini-Series)  

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⏱️TIMESTAMPS
00:00 - Intro
00:43 - Inventory Definition
00:50 - Perpetual Inventory System Definition
01:00 - Periodic Inventory System Definition
01:24 - Advantages of a Perpetual Inventory System
01:41 - Disadvantages of a Perpetual Inventory System
02:10 - Advantages of a Periodic Inventory System
02:16 - Disadvantages of a Periodic Inventory System
02:37 - Inventory Systems Worked Example - Question
03:33 - Inventory Calculation
04:40 - Inventory Systems Worked Example - Solution
11:50 - Final Comparison

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