perpetual inventory


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perpetual inventory

n
(Commerce) a form of stock control in which running records are kept of all acquisitions and disposals
References in periodicals archive ?
"It verifies the bar code against the SKU, which is one of the quality assurance pieces to maintaining a perpetual inventory. If that UPC is not correctly linked it will manifest itself at 10 a.m.
The use of a perpetual inventory system (manual or automated) may allow the auditor to reduce control risk for the inventory's existence and completeness assertions.
Fortunately, Softechnics, the Akron, Ohio-based vendor that handles HQF's data, including its receiving, and management of its perpetual inventory, pricing system and item management data, connected Morgan with Horseheads, N.Y.-based Salient Management Co., which develops visual data mining solutions for companies with dynamic data reporting needs like HQF.
"Without a perpetual inventory system we have limited visibility in between the physical inventory counts we perform on a quarterly basis.
The latter action resulted from the implementation of an item-level perpetual inventory system for financial reporting purposes.
In the R&D satellite account, the stock of R&D capital is constructed using the same methodology that is currently used to construct BEA's estimates of fixed reproducible tangible capital: The perpetual inventory method is used with uniform average service lives, straight-line depreciation, and a bell-shaped distribution within each vintage of capital to determine discards.
Those who wish to maintain perpetual inventory may have unanswered accounting questions about the screen entitled "Costing System." This screen is used to select an inventory cost method from among Average Cost, Standard Cost, Last Purchase Price, LIFO, and FIFO.
"It gives us the ability to have much more insight in our purchasing and buying, as we have real-time numbers," he says."Because of this, we can better manage our perpetual inventory with greater visibility, and therefore to better track our shrink, and to see where it's been historically.
Once such products are actually in-store Cardinal can provide an array of inventory management solutions, including perpetual inventory systems.
The key to the project involves merchandise replenishment and forecasting, perpetual inventory and direct-store receiving.
and foreign parents' share of their affiliates' investment in plant and equipment using a perpetual inventory model to estimate the net stock of direct investment capital at current costs, revalues direct investment in land using general price indexes, and revalues direct investment in inventories using estimates of their current replacement cost.
One such upgrade it plans to make within the next six months will be to put a perpetual inventory system in place, through Retail.net.
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