What is the difference between Perpetual and Periodic Inventory systems?

Cost centre is a unit/section within an organisation which give support to the main core sections (support like a back office to the main departments) Cost elements are cost activities/drives which managers may use to analysis, estimates and report costs in an organisation

Periodic system relies upon occasional physical count system of inventory to determine ending inventory balance and cost of goods sold while perpetual inventory system keeps continual track of inventory balance.