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Empathy is related to perception in that
LIFO Method
An inventory valuation method that assumes the last items placed in inventory are the first ones sold; LIFO stands for Last-In, First-Out.
FIFO Method
First In, First Out, an inventory valuation method that assumes that the first items placed into inventory are the first sold.
Ending Inventory
The total value of goods that remain unsold at the end of the accounting period.
Holding Gains
Profits resulting from the increase in value of an asset held over time, not realized until the asset is sold.
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