"A system for determining inventory on hand by keeping continuous records of the quantity and, usually, the cost of individual items as they are bought and sold."
System of accounting for merchandise which provides a continuous record showing the quantity and cost of all goods on hand
A system of inventory accounting in which both the revenue from sales and the cost of merchandise sold are reported each time a sale is made, so that the records continually disclose the amount of the inventory on hand.
A system that maintains an expected inventory level within a store that reflects all physical product movement sales, deliveries, credits, etc.
A system for determining the cost of goods sold by keeping continuous records of the physical inventory as goods are bought and sold.
An inventory control system where a running record is kept of the amount of stock held for each item. Whenever an issue is made, the withdrawal is logged and the result compared with the re-order point for any necessary re-order action.