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Describe a cylinder performance (balance)test.
Perpetual System
An inventory accounting system that records purchases and sales of goods instantly through computer systems, without periodically physically counting inventory.
Inventory Adjustment
Modifications made to inventory records to reflect actual inventory levels, often after a physical count.
Inventory Turnover Ratio
A measure of how frequently a company sells and replaces its stock of goods within a certain period, indicating the efficiency of inventory management.
Merchandise Inventory
The goods a company has in stock and available for sale to customers.
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