Examlex
Adding a stimulus that strengthens or increases a response is called _____.
FIFO
FIFO, or First-In, First-Out, is an inventory valuation method where goods first added to inventory are the first to be sold.
IFRS
International Financial Reporting Standards, a set of accounting standards that provide a global framework for how public companies prepare and disclose their financial statements.
Net Realizable Value
The estimated selling price in the ordinary course of business minus any costs necessary to make the sale.
LIFO
Last In, First Out, an inventory valuation method where the last items added to inventory are assumed to be the first ones removed, affecting cost of goods sold and inventory value.
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