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What is an accepted ethical guideline in terms of having social and personal relationships with clients?
Cost Of Goods Sold
The cost of finished goods available for sale minus the ending finished goods inventory.
Equivalent Units
A concept used in cost accounting to express the amount of work done by incomplete units in terms of fully completed units.
First-In, First-Out
An inventory valuation method that assumes the first items placed in inventory are the first sold.
Inventories
Assets held for sale in the ordinary course of business, in the process of production for such sale, or in the form of materials or supplies to be consumed in the production process.
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