There is no universally accepted definition of a percentile. Using the 65th percentile as an example, the 65th percentile can be defined as the lowest score that is greater than 65% of the scores. This is the way we defined it above and we will call this Definition 1..
b. The perpetual inventory system updates inventory records at the end of a period. c. The periodic inventory system updates inventory at the end of a period. d. The perpetual inventory system continually updates inventory records. e. Both C and D are true statements.
Perpetual vs Periodic Inventory System. Perpetual inventory system and periodic inventory systems are the two systems of keeping records of inventory. In perpetual inventory system, merchandise inventory and cost of goods sold are updated continuously on each sale and purchase transaction.erpetual inventory system and periodic inventory systems are the two systems of keeping records of inventory. In perpetual inventory system, merchandise inventory and cost of goods sold are updated continuously on each sale and purchase transaction.