Examlex
Failover is a specific type of fault tolerance, occurs when a redundant storage server offers an exact replica of the real-time data, and if the primary server crashes, the users are automatically directed to the secondary server or backup server. This is a high-speed and high-cost method of backup and recovery.
Inventory Count
The physical verification of the quantities and condition of items in a company's inventory.
FIFO
This inventory management and valuation method assumes that the oldest products are sold or used first; an acronym for "First In, First Out," detailing a specific approach to inventory and asset management.
Periodic Inventory System
An inventory accounting system where stock levels and cost of goods sold are calculated at the end of an accounting period, rather than being continuously updated.
Ending Inventory
The price of items for sale at the closing of a fiscal period.
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