What is the main difference between the periodic system of accounting for inventory and the perpetual system of accounting for inventory?View Solution: What is the main difference between the periodic system of

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.