Jargon Is Specific to Occupations in the Engineering and Technology

question 128

True/False

Jargon is specific to occupations in the engineering and technology professions.

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Definitions:

Finished Goods Inventory

The stock of completed products that are ready to be sold but have not yet been purchased by customers.

Cost Of Goods Manufactured

The total cost of manufacturing the goods that were completed during a specific accounting period.

Gross Margin

Gross margin refers to the difference between revenue and cost of goods sold, divided by revenue, usually expressed as a percentage, indicating the proportion of each sales dollar remaining after covering the cost of goods sold.

Finished Goods Inventory

The stock of completed products that are ready to be sold but have not yet been sold.