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Periodic Inventory System
An inventory accounting system where goods are physically counted at specific intervals for financial reporting.
Perpetual Inventory Systems
A method of inventory management where inventory levels are updated in real-time after every sale or purchase transaction.
Purchases Returns and Allowances
Transactions where buyers return damaged or unsatisfactory products to the seller, or receive a price reduction as compensation.
Merchandiser
A person or company involved in the business of purchasing goods and selling them at retail or wholesale.
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