Accounting for IGCSE & O level - Final Statements (Section 4 - No. 45)

What is the main advantage of using a point-of-sale (POS) system for inventory management?

It eliminates the need for physical inventory counts.

It provides real-time inventory tracking and updates.

It simplifies the process of calculating COGS.

It reduces the cost of purchasing inventory.

POS systems provide up-to-the-minute information on sales and inventory levels.