Mind map
inventory accounting systems
Map content
inventory accounting systems
1.perpetual inventory system
- inventory and cost of goods sold are updated after each purchase or sale
- an advantage:inventory and cost of goods sold can be determined at any time
- a disadvantage:bookkeeping is more complex and expensive
2.periodic inventory system
- inventory and cost of goods sold are updated quarterly or annually
- an advantage:bookkeeping is more simple
- a disadvantage:inventory and cost of goods sold cannot be determined at any time
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- accounting Mind Map on inventory accounting systems, created by mohab hammed on 02/12/2017.
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- mohab hammed
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- Created by mohab hammed · Dec 2, 2017
- Copied by mohab hammed · Dec 2, 2017
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