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When using the shortest-route technique,the first step is to
Gross Profit
The financial metric indicating the difference between revenue and the cost of goods sold before accounting for other expenses.
FIFO Method
"First In, First Out," an inventory valuation method where goods first received are the first to be sold, assuming costs of earliest goods are those expensed first.
Physical Flow
The movement of physical goods or materials within a production process or supply chain.
Ending Inventory
The total value of all the goods available for sale at the end of an accounting period.
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