Perpetual Inventory System: Definition, Advantages & Examples


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question 1 of 3

What is a perpetual inventory system?

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1. How often is inventory updated when a perpetual inventory system is used?

2. Under what circumstances do errors in inventory occur?

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About This Quiz & Worksheet

Looking at another reason barcodes get scanned at the checkout counter, this quiz and corresponding worksheet will help you gauge your knowledge of perpetual inventory systems. Topics you'll need to know to pass the quiz include understanding what a perpetual inventory system is as well as knowing how often inventory is updated in this system.

Quiz & Worksheet Goals

Use this printable worksheet and quiz to review:

  • Definition of a perpetual inventory system
  • How often inventories get updated
  • When inventory errors occur
  • Store more likely to use the system
  • Advantages of using a perpetual inventory system

Skills Practiced

This worksheet and quiz will let you practice the following skills:

  • Interpreting information - verify you can read information regarding how often inventories get updated and interpret it correctly
  • Reading comprehension - ensure that you draw the most important information from the related perpetual inventory system lesson
  • Knowledge application - use your knowledge to answer questions about the advantages of using a perpetual inventory system

Additional Learning

To learn more about how this system can be used to track what you have at any one time, review the corresponding lesson on Perpetual Inventory System: Definition, Advantages & Examples. This lesson will help you:

  • Understand what a perpetual inventory system is
  • Identify when the system became popular
  • Explain the importance of computers in this inventory control
  • Describe how other technology is used in the system
  • Appreciate the benefits of using the continuous inventory system