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Inventory Units
The quantity of individual items or products that a company holds in stock at any given time.
Cost Flow Assumption
An accounting method used to value the cost of goods sold and ending inventory.
Specific Identification
Specific Identification is an inventory valuation method where costs are assigned to individual items, allowing for precise cost determination of sold goods.
Cost Flow Assumption
An accounting approach to determine the value of remaining inventory and cost of goods sold, not necessarily reflecting the actual physical flow of goods.
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