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When using the shortest-route technique, the first step is to
Sales Revenue
The income earned by a company from its sales of goods or services before any expenses are deducted.
Matching Principle
An accounting principle that requires companies to report expenses at the same time as the revenues they are related to, ensuring that financial statements accurately reflect business performance.
Recorded
Documented in official records or accounts.
Periodic Inventory System
A method of inventory valuation where the ending inventory and cost of goods sold are determined at the end of an accounting period.
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