Identify the Following Terms

question 54

Short Answer

Identify the following terms:
Muhammad Ahmad

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Definitions:

Net Realizable Value

The estimated selling price of goods, minus the costs of their completion and the costs required to make the sale, used in inventory valuation and accounts receivable.

Merchandise Value

The total worth of goods held for resale by a retail or wholesale business, typically assessed at cost or market price.

Inventory Valuation

The method used to assign value to a company's inventory, including raw materials, work-in-progress, and finished goods, affecting cost of goods sold and net income.

Year-End Inventory

The total value of all inventory that a company has in stock at the end of its fiscal year.