answersLogoWhite

0

The two main inventory accounting systems are the perpetual inventory system and the periodic inventory system. The perpetual system continuously updates inventory records for each transaction, providing real-time data on stock levels. In contrast, the periodic system updates inventory records at specific intervals, relying on physical counts to determine the inventory balance. Each system has its advantages and is chosen based on the business's operational needs.

User Avatar

AnswerBot

2mo ago

What else can I help you with?

Related Questions

What are the two main inventory systems in cost accounting?

1 - Perpetual inventory system 2 -Periodic accounting system


History of inventory system?

The history of inventory systems depends on the type of inventory system being discussed. There are two main types of inventory systems, the perpetual inventory system and the periodic inventory system.


Identify two types of accounting systems?

I presume you mean computer systems, in which case Sun Accounts and Sage would be two.


What are the two major systems in a plant?

what are the two main systems in a plant


What are the two main earth systems?

no


What two basic records are generated in most payroll accounting systems?

payroll register and earnings record


What are the two major system in the plants?

what are the two main systems in a plant


What are the two main river systems in kansas?

The Missouri River Basin is one of the two main river systems in the state of Kansas. The second is the Arkansas River Basin.


What two main categories is IT separated into?

IT is separated into two main categories (1) those which process information, such as computer systems, and (2) those which disseminate information, such as telecommunication systems.


Identify the two main categories of accounting principles?

General Principles and Specific Principles. If you want to know more about "Basic Accounting Principles and Guidelines" go for below url: www[.]accountingcoach.com/accounting-principles/explanation


What are the two main systems used to measure the purity of gold?

name the two main numbering systemsused to measure the purity of gold


What are the two cost accounting systems used by a contractor manufacturing a number of specifically identifiable physical units and whose costs are normally accumulated under separate orders?

job order accounting

Trending Questions
What is the tax id number of mountain america credit union? What does a Berkshire bank teller do? Is responsible for providing leadership a positive command climate and support for the Army internal control process and designating a senior responsible official for the Managers' Internal Control Pr? Which is the lowest level of accountability where even the items with the exact same fund citation will be differentiated in the accounting system? What is the characteristics and purpose of Job Costing and Process costing? What is the meaning of operating leverage describe it? How would you include a report only transactions that posted during a three week period? Can the IRS take your severance pay? Why do debit cards do not have details embossed in it like that of credit cards? When might Activity Based Costing fail to contribute to cost estimating accuracy? How did goodwill the the store start? What kind of services offer monthly Credit card monitoring services? Why operating lease are called off balance sheet? Just before lunch Sunil a petty cashier responsible for the petty cash book was asked by his manager for 30 from petty cash because he needed to buy some groceries and had no time to get the necessary? How can you find out what the amazon registration code is for ADP payroll services? Adjusting journal entry to record bad debt? How long does it take for federal return when it is direct deposited? What are primary assets? Is Revaluation account a nominal account? Can you claim your wife if she has no income?