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Cost of Goods Sold
The total cost of all materials, labor, and overhead used to produce goods sold by a business during an accounting period.
Merchandise Inventory
Goods that a company holds for the purpose of selling them to customers, often a significant current asset on the balance sheet.
Accounts Payable
Liabilities of a business that represent money owed to creditors for goods and services purchased on credit.
Accounts Payable
the amount a company owes to suppliers or creditors for goods and services bought on credit.
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