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You are trying to get a friend to lend you $20 for dinner because you have no cash. So you ask him if he has $5. He gives that to you. Then at the checkout you mention that, unfortunately, you didn't bring your wallet and could he give another $15. Which of the following have you used on your friend?
Units Out
The quantity of products sold or distributed from inventory over a specific time period.
Average Cost Method
An inventory costing method where the cost of goods sold and ending inventory values are determined by calculating the average cost of all similar items in the inventory.
Ending Inventory
The total value of goods available for sale at the end of an accounting period, after accounting for purchases and sales during the period.
Toasters
Electrical appliances designed for browning slices of bread through the application of radiant heat.
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