Inventory systems track the flow of raw materials, work in process and finished goods inventory from receipt to sale and shipment. Accountants use different methods of tracking inventory based on the ...

What is the Periodic Inventory Method? An inventory valuation system where updating accounting records or Cost of Goods Sold (COGS) is done in designated intervals rather than after each sale. The ...

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The perpetual inventory system has several advantages over a periodic system for businesses of all sizes. In a business using the periodic inventory method, purchases are recorded throughout the year ...