PERPETUAL INVENTORY is an inventory accounting system whereby book inventory is kept in continuous agreement with stock on hand. A daily record is maintained of the dollar amount and physical quantity. There are periodic physical inventories taken to reconcile at short intervals.
CONSULTING SERVICES performed by CPAs include consultations, advisory services,
implementation services, product services, transaction services, and staff and support services.
LOSS LEADER is a featured article of merchandise sold at a loss in order to draw customers.
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