Examlex
Define and explain modernization.
Ending Inventory
The value of goods available for sale at the end of an accounting period, calculated as the beginning inventory plus purchases minus cost of goods sold.
Net Markups
The difference between the cost of a good or service and its selling price, after accounting for discounts, allowances, or returns.
Net Markdowns
The reduction in the original selling price of merchandise minus any markdown cancellations.
FOB Shipping Point
A shipping term indicating that the buyer assumes ownership and responsibility for goods at the moment they are shipped, with transportation costs borne by the buyer.
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