Identify the Following Term(s)

question 58

Short Answer

Identify the following term(s).
-Ibn Khaldun

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Definitions:

Perpetual Inventory System

A method of inventory management that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.

Ending Inventory

The total value of all goods still available for sale at the end of an accounting period.

FOB Destination

A shipping term indicating that the seller bears the shipping costs and retains ownership of the goods until they are delivered to the buyer's location.

Inventory Records

Documentation and tracking of the quantity, value, and turnover of a business's inventory, including raw materials, work-in-progress, and finished goods.