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Full and clear communication regarding Kelsey's effectiveness as a customer service manager is enhanced by the performance appraisals she periodically receives from fellow managers,subordinates,customers,and her supervisor. This best illustrates the value of
Periodic Inventory System
An inventory accounting system where the inventory on hand is determined by physical count at the end of the accounting period, used to update inventory records and cost of goods sold.
Ending Inventory
The total value of all inventory in stock at the end of an accounting period, calculated before new inventory purchases are added.
Lower Of Cost
An accounting principle where the inventory is recorded at either its historical cost or market value, whichever is lower, to report assets conservatively.
Total Inventory Value
The total cost of all items held in inventory by a business, calculated at a specific point in time.
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