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The inventory method that assigns the most recent costs to cost of merchandise sold is
Category
A class or division of people or things regarded as having particular shared characteristics.
Category Hierarchies
The organization of objects, ideas, or concepts into classes or groups based on shared characteristics, often encompassing several levels from general to specific.
Broad Concepts
General ideas or categories that encompass multiple specific elements or instances, used to organize and categorize complex information.
Detailed Subgroupings
Specific and finely divided categories within a larger group, allowing for more precise classification or analysis.
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