end-of-period procedures in a periodic inventory system

end-of-period procedures in a periodic inventory system　定期盘存制下的期末程序　

Periodic inventory is a system of inventory in which updates are made on a periodic basis.This differs from perpetual inventory systems，where updates are made as seen fit.The end of period physical count determines the amount of inventory appearing in the balance sheet.The cost of goods sold for the entire year then is determined by a short computation.