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FIFO Method
An inventory valuation method that assumes the first items purchased are the first ones sold, standing for "First-In, First-Out."
Inventory Valuation
The method of calculating the cost associated with the inventory held by a business, influencing financial statements and taxation.
Net Realizable Value
The estimated selling price of goods, minus the estimated costs of completion and costs necessary to make the sale.
Interim Financial Report
A set of financial statements covering a period shorter than a full fiscal year, usually quarterly or semi-annually, to provide investors and other stakeholders with up-to-date information.
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