Perpetual Inventory System: Difference between revisions
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(Created page with "{{Learning concept |Description=A system that keeps track of each withdrawal or addition to inventory continuously, so records are always current. |Wikipedia reference=http://...") |
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{{Learning concept | {{Learning concept | ||
|Description=A system | |Description=A system of accounting for merchandising transactions in which the Inventory and Cost of Goods Sold accounts are kept perpetually up-to-date. | ||
|Wikipedia reference=http://en.wikipedia.org/wiki/Perpetual_inventory | |Wikipedia reference=http://en.wikipedia.org/wiki/Perpetual_inventory | ||
}} | }} | ||
Latest revision as of 12:26, 17 January 2014
Description
A system of accounting for merchandising transactions in which the Inventory and Cost of Goods Sold accounts are kept perpetually up-to-date.
Concept Prerequisite
Wikipedia Reference
http://en.wikipedia.org/wiki/Perpetual inventory
Learning Material
Covered in Topic(s)
| Inventory Management |
| Merchandising Activities |