Examlex
When you use information hiding by selecting which properties and methods of a class to make public, you are assured that your data will be altered only by the properties and methods you choose and only in ways that you can control.
LIFO Method
The "Last In, First Out" inventory valuation method, where the most recently produced items are recorded as sold first.
Inventory
The raw materials, work-in-progress products, and finished goods considered to be the portion of a business's assets that are ready or will be ready for sale.
FIFO Method
The "first-in, first-out" inventory costing method, where the costs of the earliest goods purchased or produced are the first to be expensed.
Periodic System
An inventory system in which updates to inventory levels are made on a periodic basis rather than continuously.
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