Perpetual inventory is an inventory method that monitors the flow of inventory through a business operation.
Process cost is a costing system that allocates cost to goods and services produced over a period of time, either in a month or as otherwise decided. It is also practiced through sharing of cost over goods produced in a batch.
In perpetual inventory with process costing , the cost of units sold is recorded by debiting cost of goods sold and crediting finished goods inventory.
Transferring risk is a strategy that involves contractually shifting risk from one party to another. ... Other methods of transferring risk to another party or entity include contractual agreements or requirements and hold harmless agreements.
