acc week 5 dq1.docx - \u201cInventory control systems are technology solutions that integrate all aspects of an organization\u2019s inventory tasks including

acc week 5 dq1.docx - “Inventory control systems are...

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“Inventory control systems are technology solutions that integrate all aspects of an organization’s inventory tasks, including shipping, purchasing, receiving, warehouse storage, turnover, tracking, and reordering” [ CITATION Pon20 \l 1033 ] . This systems helps to manage inventories and provide the data you need to handle them. There are two different types of inventory control system. They are perpetual and periodic inventor system. “A perpetual inventory system is a method of tracking and recording inventory and costs of goods sold on a continual basis, so a current inventory balance can be calculated in real time” [ CITATION Mya19 \l 1033 ] . It is the continual track of inventory balance. It gives business owners a more accurate understanding of customer preference. It records separate ledger of each inventory item and gives accuracy information regarding them. “A period cost is more closely associated with the passage of time than with a transactional events” [ CITATION Bra182 \l 1033 ] . It is charged to expense in the period incurred. It is
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  • Spring '18
  • professor newerze
  • Service Company, inventory control systems, company buys

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