Examlex
The immune system consists of:
Periodic Inventory System
A method of inventory valuation where updates to the inventory account occur at periodic intervals, rather than continuously.
Inventory
The goods and materials a business holds for the purpose of resale or production, reflected as an asset on the balance sheet.
Merchandise Purchased
Goods bought by a business for the purpose of resale, forming part of its inventory.
Cost Of Goods Available
The total cost of all merchandise or materials available for sale or use, including beginning inventory plus purchases.
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