In A(n) ____________________ Database, Tables Can Be Related to Each

question 30

Short Answer

In a(n) ____________________ database, tables can be related to each other and you can use that feature to make data management more efficient.

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Definitions:

Periodic Inventory System

An inventory accounting system where physical inventory counts are conducted at specific intervals to determine the cost of goods sold.

First-In, First-Out

A rephrased definition of FIFO; it's a method of stock valuation assuming that the oldest inventory items are used or sold first.

Lower of Cost or Market

Accounting principle where inventory is stated at the lower value between its original cost and current market price.

Inventory Item

A specific product or material that a company holds in stock with the intent to sell or use in the production process.