Inventory Systems

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GRADE 12 - Inventory Systems

GRADE 11 - Inventory Systems

GRADE 10 - Inventory Systems

Definition and explanation of the following stock systems:

  • Perpetual stock system
  • Periodic stock system

Knowledge of the advantages and disadvantages of the periodic and perpetual stock systems

Recording of transactions using the periodic stock system in the journals and ledgers, comparing it with the perpetual stock system:

  • purchases account as opposed to Trading Stock account
  • Opening Stock and Closing Stock accounts
  • Trading account
  • carriage on purchases
  • custom and import duties.

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