Periodic Inventory System

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Description

An alternative to the perpetual inventory system. It eliminates the need for recording the cost of goods sold as sales occur. However, the amounts of inventory and the cost of goods sold are not known until a complete physical inventory is taken at year-end.

Concept Prerequisite

Wikipedia Reference

http://en.wikipedia.org/wiki/Periodic inventory

Learning Material

Covered in Topic(s)

 
Merchandising Activities