Examlex
Find the missing numerator and denominator.
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Perpetual System
An inventory management method where inventory quantities and cost of goods sold are updated continuously with each sale or purchase.
Periodic System
A method of inventory valuation for financial reporting purposes where a physical count of the inventory is performed at specific intervals to determine the ending inventory balance and the cost of goods sold.
Merchandise Inventory
Goods or products that a retail or wholesale company holds for the purpose of selling them to customers.
Goods On Consignment
Merchandise that is sent to a retailer by the vendor to be sold but remains the property of the vendor until sold.
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