Examlex
The probability of one event given the known outcome of a (possibly) related event is known as
FIFO inventory cost method
An inventory valuation method where costs of the earliest goods purchased are the first to be recognized in determining cost of goods sold.
Inventory costing method
A system or technique used by companies to assign costs to inventory and goods sold; common methods include FIFO, LIFO, and average cost.
Ending inventory
The total value of goods available for sale at the end of an accounting period after all sales transactions have been accounted for.
Current prices
Prices at which goods and services are being sold in the present market, reflecting the current economic conditions.
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