Examlex
Find the term indicated in the expansion.
- rd term
Freight-In
Costs associated with transporting goods into a warehouse or to the buyer, typically included in the inventory cost under the accounting principle of absorption costing.
Inventory Account
An account that tracks the value of a company's inventory, including raw materials, work-in-process, and finished goods.
Perpetual Inventory System
An accounting method where inventory records are updated continuously as transactions occur.
Inventory Shrinkage
The loss of products due to factors like theft, damage, or error, which leads to a discrepancy between recorded inventory and actual stock.
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