MANAGEMENT

Which of the following best describes the Perpetual Inventory System? 1. It is used by merchandising firms selling a limited number of products of relatively high value, e.g. appliances, equipment, jewelry, and the likes. 2. It is normally used by a merchandising firm selling innumerable products, e.g., stocks in trade of trading stores, groceries, small department stores and etc. 3. It is a method of inventory management that records real-time transactions of received or sold stock through the use of technology-generally considered a more efficient method. 4. It is time-consuming and can produce stale numbers that are less useful to management.