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Perpetual Inventory System
A bookkeeping approach that immediately logs the buying or selling of inventory via computerized point-of-sale systems and enterprise asset management software.
Physical Units
A method of measuring production or inventory in terms of actual physical items or volumes, rather than monetary value or time.
Inventory Records
Documentation and tracking of a company's stock of goods or materials, essential for managing inventory levels and financial reporting.
Base Period
A specific time period used as a comparison point for assessing economic or financial data across different periods of time.
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