Businesses have two options when accounting for inventory -- perpetual and periodic. In a perpetual inventory system, inventory is updated after each sale and purchase transaction through a series of ...

At the end of every year or other accounting period, accounts dealing with inventory require some adjustments. The purpose of making these adjustments is to update account balances so that they ...

Robert Kelly is managing director of XTS Energy LLC, and has more than three decades of experience as a business executive. He is a professor of economics and has raised more than $4.5 billion in ...