A perpetual inventory system continually updates accounting records for merchandising transactions.

Question

Quizplus · Accepted Answer

A perpetual inventory system keeps track of inventory changes in real-time, updating accounting records for transactions as they occur. This differs from a periodic inventory system, which updates accounting records only at the end of a period (e.g. monthly or annually) based on physical inventory counts.

A Perpetual Inventory System Continually Updates Accounting Records for Merchandising