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Inventory Cost Flow
The process of accounting for the costs associated with the goods throughout the stages of inventory, from raw materials to sold products.
Financial Statements
Documents that report on a company’s financial performance, position, and cash flows, giving insight into its financial health.
Assumptions
Predetermined notions or beliefs influencing the understanding or analysis of data or events.
LIFO
"Last In, First Out," an inventory valuation method where the last items put into inventory are the first ones sold.
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