Examlex
An externality:
Cost of Goods Sold
The direct costs attributable to the production of the goods sold by a company.
Purchase Returns
Transactions where buyers return previously purchased merchandise to the seller, resulting in a reduction of cost of goods sold for the seller and a refund or credit for the buyer.
Freight-In
The shipping cost for merchandise transported into a company's inventory, typically considered part of the cost of goods sold.
Income Statement
A financial statement that reports a company's financial performance over a specific accounting period detailing revenues, expenses, profits, and losses.
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