perpetual inventory system Definition | Business Dictionaries from AllBusiness.com
Facebook Twitter Google+ You Tube RSS Feed
data-override-format="true" data-page-url = "http://www.allbusiness.com">

Business Glossary

SEARCH THE BUSINESS GLOSSARY

Business Definition for: perpetual inventory system
perpetual inventory system

one keeping continual track of additions or deletions in materials, work-in-process, and cost of goods sold on a day-to-day basis. Physical inventory counts are usually taken at least once a year in order to check on the validity of the book records. Cost of goods sold therefore is kept on a day-to-day basis rather than being determined periodically.

See also periodic inventory system
Copyright © 2005, 2000, 1995, 1987 by Barron's Educational Series, Inc., Reprinted by arrangement with Publisher.

Newsletter

Weekly Roundup

Sign up for our weekly Experts roundup, delivered to your inbox each Saturday morning.

Most Recent From our Experts

AllBusiness Experts

AllBusiness Greatest Hits

;
Close

Real Business Owners, Real Business Advice!

Sign up for practical, real-world solutions from successful business owners delivered to your inbox each Saturday morning. FREE.