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Inventory Control
The supervision of non-capitalized assets (inventory) and stock items, particularly managing the quantity of stock on hand to prevent stockouts or excessive oversupply.
Petty Cash Voucher
A document used to record and authorize the payment of small, immediate expenses from a petty cash fund.
High-Cost Items
Products or services that have a significantly higher price due to their quality, complexity, or brand reputation.
Specific Identification
A method for inventory costing and valuation that tracks the cost of individual items or batches of items.
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