Accounting for Inventory C Accounting for inventory requires several decisions which include n Items to include in cost o Inventory System. Perpetual or periodic n Costing Method. fifo, liFo, Weighted average, specific d D Use of estimates Gross profit method, Retail inventory method Task Team of FUndaMientalactoUntING Business Sehool. Sun Yatsen niversity6 Accounting for Inventory ⧫Accounting for inventory requires several decisions which include:  Items to include in cost.  Inventory System. →Perpetual or Periodic  Costing Method. →FIFO, LIFO, Weighted Average, Specific ID  Use of estimates. →Gross profit method, Retail inventory method