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 ...

Thanks to sophisticated software systems that even small businesses can use, more companies are moving toward the perpetual inventory system, which keeps real-time track of product levels. The ...