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From a customer's point of view, for an organization's capability to be a core competence, it must be:
Income Taxes
Taxes levied by the government on the income generated by businesses and individuals, which vary by income levels and jurisdictions.
Ending Inventory
The total value of goods available for sale at the end of an accounting period, calculated by adding new purchases to the starting inventory and subtracting goods sold.
Inventory Valuation Methods
Techniques used to calculate the cost of goods sold and ending inventory, such as FIFO (First-In, First-Out), LIFO (Last-In, First-Out), and average cost methods.
Gross Profit Method
An accounting technique used to estimate the amount of ending inventory and cost of goods sold, based on the gross profit margin.
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