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Sales Tax
A tax on sales or on the receipts from sales.
Credit Memo
A document issued by a seller to a buyer, reducing the amount owed, often due to a return or overcharge.
Perpetual Inventory System
In accounting for inventory, this method promptly captures the transaction of a sale or purchase using advanced computerized point-of-sale systems and enterprise asset management software.
Cost of Goods Sold
The total cost of manufacturing or acquiring the inventory that was sold during a specific period.
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