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Inventory Management

part of the Microsoft Office Accounting Professional 2007 product line, by Microsoft Corporation

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Small Business Accounting 2006 helps companies manage and track their inventory, using the first-in, first-out (FIFO) valuation method. Small businesses can use purchase orders to order new inventory items, and then receive items in the system as they come in. Inventory quantities are depleted from the system as invoices are created to help maintain accurate inventory levels. Companies can also track and adjust their overall inventory quantities in the system, in real time, and can use the physical inventory worksheet to perform a physical count.

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