Accounting for Inventory Q Accounting for inventory requires several decisions which include a 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