Examlex
Which term is used for speech directed toward another person and meant to be understood by that person?
Cost of Goods Sold
The direct costs attributable to the production of the goods sold in a company, including the cost of the materials and labor directly used to create the product.
FIFO Costs
First In, First Out, a cost flow assumption for inventory valuation where the oldest inventory items are recorded as sold first.
FIFO Inventory
A method of inventory valuation where the first items placed into inventory are the first ones sold; stands for First-In, First-Out.
Periodic Inventory
An inventory accounting system where inventory counts and cost of goods sold (COGS) are determined at the end of an accounting period.
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