Could SAP B1 handle " Periodic inventory System " ?

Question

if SAP can handle Periodic inventory system, how to do this ?

Answer 1

Hi Jamesss,
Periodic inventory is a system of inventory in which updates are made on a periodic basis. This differs from perpetual inventory systems, where updates are made as seen fit. In Periodic Inventory System no effort is made to keep up-to-date records of either the inventory or the cost of goods sold. Instead, these amounts are determined only periodically-usually at the end of each year.
As the inventory records are not updated as transactions occur, there is no need of Inventory Subsidiary Ledger. The foundation of the periodic inventory system is the taking of a complete physical inventory at year-end. This physical count determines the amount of inventory appearing in the balance sheet. The cost of goods sold for the entire year then is determined by a Short Computation.
Journal Entries
When Company is the Buyer
Credit purchase of Inventory                
Purchases                                      Dr XXX     
Accounts Payable                                  CrXXX  
Payment of Freight Cost
Freight-In                                      DrXXX     
Cash                                                         Cr XXX     
For a return to supplier 
Accounts Payable                          DrXXX     
Purchase returns and Allowances          CrXXX    
Payment of bill to supplier   
Accounts Payable                         DrXXX     
Cash                                                         CrXXX     
Purchases Discounts                               CrXXX
When Company is the Seller
Note:Cost of goods sold is deal with in the Cost of Goods Sold section of the income statement at the end of the accounting period. Adjusting Entries are made to adjust ending inventory for items sold.
Sale to customer on credit            
Accounts Receivable                    DrXXX     
Sales Revenue                                        Cr XXX  
Customer returns to seller.
Sales Returns and Allowances    DrXXX     
Accounts Receivable                            Cr  XXX 
Customer pays off bill With in discount period   
Cash                                            Dr XXX
Sales Discounts                           Dr   XX     
Accounts Receivable                             Cr XXX 
Customer pays off bill After discount period 
Cash                                            DrXXX     
Accounts Receivable                            Cr XXX 
Cost of goods sold is deal with in the Cost of Goods Sold section of the income statement at the end of the