Examlex
Write in terms of i.
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Inventory
Materials and goods held by a business in the process of being sold or used in production processes.
Cost
The amount of money that needs to be spent to acquire, produce, complete, or maintain something.
Absorption Costing
An accounting method that includes all direct costs and allotted indirect costs associated with manufacturing a product.
Ending Inventory
The total value of goods available for sale at the end of an accounting period.
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