The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

PERIODIC INVENTORY METHOD Definition & Legal Meaning

Definition & Citations:

A method by which the inventory is controlled without keeping any receipts or issues. At the end of every period of accounting, the final inventory is analyzed and an actual count is undertaken to check the unsold inventory. Suitable methods such as FIFA or LIFO are used.


This article contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.