Try another version of this question For each statement below, identify whether the statement applies to the periodic inventory system or perpetual inventory system. Statement Inventory System Achieves better control over merchandise inventory. Normally used for relatively inexpensive goods. Keeps a running computerized record of merchandise inventory. Requires a physical count of inventory to determine the quantities on hand. Uses bar codes to keep up-to-the-minute records of inventory. Statement Inventory System Achieves better control over merchandise inventory. Perpetual Normally used for relatively inexpensive goods. Periodic Keeps a running computerized record of merchandise inventory. Perpetual Requires a physical count of inventory to determine the quantities on hand. Periodic Uses bar codes to keep up-to-the-minute records of inventory. Perpetual