Literature Sales and Inventory

CHAPTER II

THERORITICAL FRAMEWORK

This chapter presents the Review of Related Literature and Review of Related Studies.

Review of Related Literatures

Local Literature

IJCS-ASIS (Ian Jason Construction and Supply Automated Sales and Inventory System).This sales and inventory system has no capacity to print out sales invoice and record items that a particular employee had purchased. It is also a non-customer handler system.

Foreign literature

Sales

In general, a transaction between two parties where the buyer receives goods (tangible or intangible), services and/or assets in exchange for money. An agreement between a buyer and seller on the price of a security. Every day, millions of people take part in countless sales transactions across the globe, creating a constant flow of value which forms the backbone of our economies. Sales of investment vehicles in the financial markets represent highly refined value exchanges.

For example, consider a typical middle-class person purchasing their first home. Obviously, a sale occurs when the home is sold to the buyer. However, there are many layers of sales surrounding the deal. Very likely, a lending institution would sell financing, via a mortgage, to the homebuyer. Then, the lending institution likely sells that mortgage to another individual as an investment. An investment manager could earn living trading bundles of mortgages and other kinds of debt financing.

(http://www.investopedia.com/terms/s/sale.asp)

Inventory

An itemized catalog or list of tangible goods or property, or the intangible attributes or qualities.

The value of materials and goods held by an organization (1) to support production (raw materials, subassemblies, work in process), (2) for support activities (repair, maintenance, consumables), or (3) for sale of customer service (merchandise, finished goods, spare parts).

Inventory is often the largest item in the current assets...