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Dear respected sir
What is the difference of periodic method and Continuous inventory records?
And does this require for the f3 exams?This is explained in the notes and lectures.
In the periodic method, inventory is only accounted for at the end of each period.
In the continuous method it is accounted for every time there is a sale or purchase.You are expected to be aware of both, but will only be asked accounting entries relating to the periodic method.
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