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Phobas Inc. offers an online service that stores notes made by customers on the cloud. When a customer enters notes on a device, it gets updated in all the devices he/she owns. Which of the following cloud-based offerings does Phobas Inc. provide to its customers?
Average Cost Method
An inventory valuation method that assigns the average cost of all similar items in the inventory until they are sold.
LIFO
LIFO, or Last In, First Out, is an inventory valuation method where the last items to be added to inventory are assumed to be the first ones sold.
Ending Inventory
The total value of a company's merchandise, goods, and products held at the end of an accounting period.
Sales Revenue
The income received by a company from its sales of goods or the provision of services.
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