Examlex
Which of the following techniques would be used to detect rales?
Gross Profit
A company's revenue minus its cost of goods sold, indicating how efficiently a company uses its resources in production.
Ending Inventory
The value of all inventory left unsold at the end of an accounting period.
FIFO Method
An inventory valuation method where the first goods purchased or produced are the first ones sold, impacting the cost of goods sold and inventory value.
Gross Profit
The financial gain obtained after deducting the cost of goods sold from total sales revenue, representing the efficiency of core operations.
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