Examlex
Write the vector in the form <a, b>. If necessary, round values to the nearest hundredth.
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Gross Profit
The difference between revenue and the cost of goods sold before deducting selling, general, and administrative expenses.
Net Income
The net income of a company, which is calculated by deducting all costs and taxes from the total revenue.
Incidental Costs
Minor or secondary costs that are associated with purchasing or manufacturing a product but not directly allocable to production costs.
Merchandise Inventory
Goods available for sale to customers, categorized as a current asset on a company's balance sheet.
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