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🎯 What you’ll learn from this reel: In this reel, you will clearly understand 👇 ✔️ How purchase of goods is recorded under the Perpetual Inventory System ✔️ Why Purchases A/c is NOT used in the perpetual system ✔️ How purchases are capitalised as Inventory (Stock) under the Modern Rule ✔️ The correct journal entry for cash purchase of goods ✔️ How Inventory increases and Cash decreases immediately ✔️ When profit is affected and when it is not affected ✔️ The key exam concept: Cost is transferr
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