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Cronbach and other authors have argued that all types of validity are really categories of
Cost of Goods Sold
Cost of goods sold is the direct costs attributable to the production of the goods sold by a company, including the cost of materials and labor.
Periodic System
An inventory system in which the inventory level is updated and cost of goods sold is calculated at the end of an accounting period.
Perpetual Inventory
An inventory management system that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.
Periodic System
An accounting method used for tracking inventory where updates to the inventory account are made periodically, typically at the end of an accounting period.
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