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 ...

Businesses may use two systems to maintain inventory records: perpetual and periodic. Now that computing systems that tie inventory and sales records together are widely available, most companies use ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

IMGCAP(1)]Inventory management is the practice of planning, directing and controlling inventory so that it contributes to the business' profitability. Inventory is an asset on the balance sheet that ...

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 ...