The total list price for in-state Connecticut residents to go to ECSU is $22,210 for the 2014/2015 academic year. Out-of-state students who don't possess Connecticut residence can expect a one year cost of $32,496.
What is 'Periodic Inventory' Periodic inventory is a method of inventory valuation for financial reporting purposes where a physical count of the inventory is performed at specific intervals. This accounting method for inventory valuation only keeps track of the inventory at the beginning of a period, the purchases made and the sales during the same period and is recorded under the asset section of the balance sheet.
In a periodic inventory system, an adjusting entry is used to determine the cost of goods sold expense. However, an adjusting entry is not necessary for a company using perpetual inventory. Adjusting entries for expenses such as interest, taxes, rent, and salaries are the most common accrual entries.