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Evaluate the integral.
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Net Income
The profit of a company after all expenses and taxes have been deducted from total revenue.
Perpetual Inventory System
An inventory management system where inventory levels are updated in real-time with each sale or purchase, providing a continuous record of inventory counts.
Periodic Inventory System
An inventory system that updates inventory balances after a set period by taking a physical inventory count.
First-In, First-Out (FIFO)
An inventory valuation method that assumes the first items placed into inventory are the first sold, affecting the cost of goods sold and inventory value.
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