What is a periodic inventory system?

Answer Inventory is usually the second-largest expense for businesses outside of payroll. Many companies develop inventory systems to accurately value and maintain their on-hand inventory items.FactsA per... Read More »

Top Q&A For: What is a periodic inventory system

Difference Between Perpetual and Periodic Inventory Systems?

Companies are watching inventory closer and closer, attempting to keep on-hand inventories as low as possible. One such method is the Just-In-Time inventory system. As a result of these changing pa... Read More »

What is an inventory system?

An inventory system may refer to how a company tracks its inventory (there are two principal systems), or, may refer simply to the computerized or manual methods by which a company controls its inv... Read More »

ABC System of Inventory?

Most companies find their inventory falls under the 20-80 rule. Twenty percent of their inventory accounts for 80 percent of all sales. This creates a need to more accurately monitor the faster-mov... Read More »

What is an inventory control system?

An inventory control system is a system that manages an organization's inventory. This includes physical inventory as well as inventory shipped, received, transferred, sold or destroyed. This syste... Read More »