ECONOMICS

Detailed explanation-1: -Continuous stock taking is a part of perpetual inventory. Perpetual inventory is a method of accounting for inventory that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.

Detailed explanation-2: -Perpetual stock management – also known as perpetual stock taking or perpetual inventory system – is a type of inventory valuation whereby a business uses electronic tracking systems to continually record inventory.

Detailed explanation-3: -The most common perpetual inventory system example is the usage of wireless barcode scanners in a grocery store. It records all scanned transactions on the system immediately as they occur. This way, firms can easily compute the current and required stockpile.

Detailed explanation-4: -Continuous, Perpetual Or Automatic Stock Verification This system conducts stocktaking throughout the year under a predetermined plan of action. The predetermined plan of action should be developed by the business depending on what type of goods they store.

Detailed explanation-5: -(c) Perpetual inventory system is efficiently maintained without continuous stock taking.