Find the Midrange

question 62

Short Answer

Find the midrange. 36 43 15 12 2 38 40 13

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Definitions:

Seventy-Five Percent

A quantitative measure or threshold, often referenced in various contexts to signify a substantial majority of 75%.

LIFO Method

Last-In, First-Out method, an inventory valuation technique where the most recently produced or purchased items are the first to be used or sold.

Gross Profit

Gross profit is the financial measure calculated by subtracting the cost of goods sold from revenue, indicating the efficiency in production and pricing.

LIFO Method

An inventory valuation method that assumes the last items placed in inventory are the first sold, known as Last-In, First-Out.