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A marathon runner would be using
Ending Inventory
The value of goods available for sale at the end of an accounting period, calculated as the beginning inventory plus purchases minus the cost of goods sold.
Cost of Goods Sold
The direct costs tied to the production of the goods sold by a company, including materials and labor.
Beginning Inventory
The value of a company's inventory at the start of an accounting period, crucial for calculating the cost of goods sold.
Cost of Goods Sold
This accounting term refers to the direct costs attributable to the production of the goods sold by a company, including labor, material, and overhead costs.
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