Examlex
Computer-assisted audit techniques (CAAT)are often used when auditing a company's IT infrastructure.
Periodic LIFO
An inventory valuation method applied at the end of an accounting period that assumes the last items added to inventory are the first sold.
Ending Inventory
The total value of unsold goods held by a company at the end of an accounting period.
Inventory System
Methods and procedures used to track materials, work-in-progress, and finished goods from acquisition through sale.
Weighted-Average
A calculation method where different data points are given different weights, often used in inventory valuation and cost accounting.
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