Inventories are assets held for sale in the ordinary course of business, or they are goods that will be used or consumed in the production of goods...

Inventories are assets held for sale in the ordinary course of business, or they are goods that will be used or consumed in the production of goods to be sold. What are the major classifications of inventory? Why would someone choose to use a perpetual over a period inventory system, and vice versa?

QUESTION:Inventories are assets held for sale in the ordinary course of business, or they are goods that willbe used or consumed in the production of goods to be sold. What are the major...