Examlex
Explain grassroots marketing.
Cost Of Merchandise
The purchase price of goods sold by a company, including the cost of acquiring the goods plus any additional expenses to bring them to saleable condition.
Freight In
The cost associated with transporting goods into a business, typically included in the cost of goods sold calculation.
Gross Profit
The financial gain obtained after subtracting the cost of goods sold from the revenue generated from sales.
Closing Entries
Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts, preparing the accounts for the next period.
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