Summary ACC340 WEEK6ASSIGNMENT.docx ACC340 Week 6 Problem Sets Grantham University Week 6 Problem Sets Chapter 15: P 15-5, page 612 Based on the inventory process control goals discussed in this chapter, explain the impact of using a periodic inventory proc

ACC340 WEEK6ASSIGNMENT.docx ACC340 Week 6 Problem Sets Grantham University Week 6 Problem Sets Chapter 15: P 15-5, page 612 Based on the inventory process control goals discussed in this chapter, explain the impact of using a periodic inventory process instead of a perpetual process. Be sure to also discuss how you would design the process to attempt to meet the same control objectives using this periodic process. Answer: Small businesses use periodic inventory management systems most of the time as this is the best. Most small businesses still use periodic inventory systems, but more and more perpetual inventory systems have become increasingly popular due to the computer scanning of inventory, increased software, and how it works along with lower software costs. When using periodic inventory systems a company tracks its beginning and ending inventory in the accounting period. This does not track inventory