Perpetual inventory

From CNM Wiki
Revision as of 13:15, 15 July 2020 by EshwaN (talk | contribs) (Created page with "Perpetual inventory is an inventory system in which both Cost of Goods Sold and Inventory are updated every time a sale is made. ==Definitions== According to Managerial...")
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to: navigation, search

Perpetual inventory is an inventory system in which both Cost of Goods Sold and Inventory are updated every time a sale is made.

Definitions

According to Managerial Accounting by Braun, Tietz (5th edition),

Perpetual inventory. An inventory system in which both Cost of Goods Sold and Inventory are updated every time a sale is made.