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 ...

A periodic inventory system uses a manual inventory count at the end of the year. This amount, labeled ending inventory, becomes the beginning inventory for the next year. Purchases of new inventory ...

What Is a Perpetual Inventory System? A perpetual inventory system is a computerized system that continuously records inventory changes in real-time, thereby reducing or eliminating the need for ...