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Direct Method
A cash flow statement preparation approach where actual cash inflows and outflows from operating activities are listed directly.
Inventory
Raw materials, work-in-process products, and finished goods that are considered to be the part of a business's assets that are ready or will be ready for sale.
Cost of Goods Sold
The direct costs attributable to the production of the goods sold by a company, including materials and labor.
Income Tax Expense
The amount of income tax a company owes to federal, state, or local authorities, recognized as an expense in the period it is incurred.
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