perpetual inventory
Definition
Keeping book inventory continuously in agreement with stock on hand within specified time periods. In some cases, book inventory and stock on hand may be reconciled as often as after each transaction, while in some systems these two numbers may be reconciled less often. This process is useful in keeping track of actual availability of goods and determining what the correct time to reorder from suppliers might be. Sometimes also called continuous inventory.
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'perpetual inventory' appears in the definitions of these other terms on BusinessDictionary.com:
periodic inventory method, continuous inventory method, moving average inventory cost
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