This sub system deals with the recording of different items purchased and issued specifying the price, quantity and date.

The Inventory Sub System is the correct answer because it specifically maintains detailed records of inventory movements in both directions:

Recording Purchases (Receipts):

• When items are purchased and added to inventory
• Records quantity received, purchase price, and date of receipt

Recording Issues (Consumption):

• When items are taken out from inventory for production, sales, or other purposes
• Records quantity issued, cost price, and date of issue

This sub-system maintains a perpetual record of stock showing opening balance, receipts, issues, and closing balance for each inventory item. It tracks both the physical quantity and monetary value of inventory at any point in time.

The other options are incorrect because:

Purchase and Accounts Payable Sub System only deals with the purchase side and creditor management - it doesn't track the issuance of items from inventory.

Sales and Accounts Receivable Sub System focuses on sales transactions and debtor management, not on items being purchased and issued from inventory.

Expense Sub System records various business expenses but doesn't maintain detailed quantity and movement records of inventory items.