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Inventory Accounting Methods

Author: Evan McLaughlin

Source: Instrumental “Drops of H2O ( The Filtered Water Treatment )" by J.Lang (feat. Airtone),” Creative Commons, http://ccmixter.org/files/djlang59/37792

Video Transcript
Terms to Know
Periodic Inventory

A physical inventory count and calculation of cost of goods sold, done at the end of the period.

Perpetual Inventory

Computerized inventory system that keeps continuous detailed records of purchase and sale of inventory, and cost of goods sold.