Examlex
Explain self-defense under modern laws.
Beginning Inventory
The value of inventory held by a business at the start of an accounting period.
Inventory Costing Method
Techniques used to assign costs to inventory and cost of goods sold, such as FIFO (First-In, First-Out) or LIFO (Last-In, First-Out).
Gross Profit
The financial metric calculated by subtracting the cost of goods sold from net sales, representing the profit from selling goods before deducting operating expenses.
Ending Inventory
The value of goods available for sale at the end of an accounting period, calculated using a specific inventory valuation method.
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