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Plain view
Perpetual Inventory System
A continuous tracking method for inventory that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.
LIFO
Last In, First Out, an inventory accounting method where the last items placed in inventory are the first ones to be used or sold.
Ending Inventory
Products' value that is available for transaction at the culmination of an economic period.
Merchandise Inventory
Goods held by a business for the purpose of resale to customers in the ordinary course of business.
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