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Periodic FIFO
An inventory valuation method where goods are sold based on the assumption that the oldest inventory items are sold first.
Ending Inventory
At the close of an accounting period, the financial worth of products available for sale, computed by starting with the inventory at the beginning, adding in purchases, and deducting the cost of goods sold.
Inventory Costing
The methodology for assigning costs to inventory items, which may include approaches like FIFO, LIFO, or average cost methods.
Ending Inventory
The value of goods available for sale at the end of an accounting period, calculated after considering the cost of goods sold.
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