The simplest method of inventory record-keeping is called the perpetual inventory system.

Name: The simplest method of inventory record-keeping is called the perpetual inventory system.
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The simplest method of inventory record-keeping is the periodic inventory system, not the perpetual inventory system. The perpetual system continuously updates inventory records, while the periodic system updates records at specific intervals.

The Simplest Method of Inventory Record-Keeping Is Called the Perpetual