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Before you can scientifically test a hypothesis, you must use the hypothesis to develop a
Inventory
The total amount of goods available for sale or use by a business.
Perpetual Inventory System
An accounting method that records inventory purchases or sales immediately through the use of computerized point-of-sale systems and enterprise asset management software.
FIFO Inventory
An inventory valuation method that assumes goods are sold in the order in which they were acquired, with the oldest inventory items sold first.
Inventory Balance
The total value of all the goods that a company has in stock at any given time.
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