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Net Sales
Revenue from sales minus returns, allowances, and discounts.
Beginning Inventory
The value of goods available for sale at the start of an accounting period, before any purchases are added or sales are made.
Inventory Costing
The method of accounting that determines the value of a company's inventory, taking into account the costs of acquiring, producing, and other costs associated to bring the inventory to its current condition and location.
Cost of Goods Sold
An accounting term denoting the direct costs attributable to the production of goods sold by a company.
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