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Perpetual Inventory System
An inventory management approach where updates to inventory records are made immediately following each transaction.
Cost Of Goods Sold
The direct monetary charges for materials and labor involved in the creation of goods a business sells.
Credit Terms
The conditions under which credit is extended by a lender to a borrower, including the repayment schedule, interest rate, and due date.
Invoice Price
The price indicated on an invoice, representing the amount to be paid by the buyer to the seller.
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