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To protect against lost or sabotaged encryption keys, a trusted party should keep a copy of the key.
Inventory Flow
The process by which inventory moves through a business, from purchase and storage to sale.
Periodic Inventory System
An inventory accounting system where updates to inventory accounts occur at specific intervals, typically at the end of an accounting period.
LIFO
An inventory valuation method where the last items added to inventory are considered the first ones sold during a period of time; stands for Last-In, First-Out.
FIFO
An accounting method for inventory valuation where the first items acquired are the first ones sold, standing for First In, First Out.
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