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Mike and Sandy are two woodworkers who both make tables and chairs.In one month,Mike can make 4 tables or 20 chairs,while Sandy can make 6 tables or 18 chairs.Given this,we know that
Lifo Inventory
A method of inventory valuation where the last items placed into inventory are the first ones taken out, used to calculate the cost of goods sold and ending inventory.
Basic Earnings Per Share (Eps)
Basic Earnings Per Share (EPS) is a calculation used to gauge a company's profitability on a per-share basis, dividing net earnings available to common shareholders by the average outstanding shares.
Net Income
The remaining income of a company after deducting expenses and taxes from the total income generated.
Weighted Average
A calculation that takes into account the varying degrees of importance of the numbers in a dataset, often used in accounting and inventory valuation.
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