Examlex
What is Web 2.0?
Periodic Inventory System
A system in which inventory levels are updated in the accounting records on a periodic basis, typically at the end of an accounting period.
Physical Inventory
A detailed listing of merchandise on hand.
Perpetual Inventory System
A method that continuously updates inventory records to reflect sales, returns, and additions in real time.
Perpetual Inventory System
An inventory management system where stock levels are updated in real-time following each purchase or sale.
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