Examlex
Which of the following statements is true?
Perpetual Inventory System
An inventory tracking system that updates item records continuously as transactions occur.
Cost of Sale
Costs directly related to the production of the goods sold by a company.
Merchandise Inventory
Goods that a retailer, wholesaler, or distributor holds for the purpose of selling to customers in the normal course of business.
Perpetual Inventory System
A method of accounting for inventory that records real-time transactions of goods as they come in and out of stock, thus maintaining a continuously updated inventory balance.
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