Examlex
________ is computer code as written by humans and that is understandable by humans.
Periodic
In accounting, periodic refers to a system or method where financial information and inventory levels are updated at specific intervals, rather than continuously.
Purchases
The total amount spent on goods and materials bought for resale or use in production during an accounting period.
Perpetual
A system of inventory management where records are updated immediately following a sale or purchase of goods.
Merchandise Inventory
The total value of a business's commodities or goods available for sale to customers at any given time.
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