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Definitions:
Consignment
involves goods being given to a third party to sell, with the owner retaining ownership until the items are sold.
Merchandise
Goods that are bought and sold in the course of business, typically in a retail or wholesale environment.
Inventory
The total amount of goods and materials a business has in stock, either for sale or used in production.
Purchase Price
The amount of money paid to buy goods or services.
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