Tag Archives | Inventory System

Top 3 Types of Inventory System | Cost Accountancy

The types are: 1. Perpetual Inventory System 2. Continuous Physical Stock Taking Inventory System. 3. Periodic Stock Verification. Inventory System: Type # 1. Perpetual Inventory System: Definition: In the words of Wheldon: “Perpetual Inventory System may be defined as a method of recording store balances after every receipt and issue, to facilitate regular checking and […]

Perpetual Inventory System | Cost Accountancy

In this article we will discuss about Advantages and Disadvantages of Perpetual Inventory System. Advantages of Perpetual Inventory System: The following advantages can be derived from Perpetual Inventory System: (i) The long and costly work of a stock-taking count can be avoided. (ii) It does not become necessary to stop production at the time of […]

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