Before we start with the database discussion we have to consider the following points—a big picture of our FlixOne web application:
- One part of our application is inventory management, but another part of it is an e-commerce web application.
- The challenging part is that our application would also serve as a Point Of Sale (POS). In this part/module, the user can pay for the items they have purchased from offline counters/outlets.
- For the inventory part, we need to address which approach we will be taking to calculate and maintain accounts and transactions, and to determine the cost of any item sold.
- To maintain stock for inventories, various options are available, with the two most commonly used options being First In First Out (FIFO) and Last In First Out (LIFO).
- Most of the transactions involve financial data, hence these transactions require historical...