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Gross Profit
The financial measure calculated by deducting the cost of goods sold from total sales revenue.
Selling Expenses
Costs associated with the marketing and distribution of a product, including advertising, sales staff salaries, and shipping costs.
Perpetual Inventory
An inventory management system that continuously tracks the quantity and value of inventory, updating records in real-time as transactions occur.
Credit Terms
The conditions under which credit is extended by a lender to a borrower, including repayment time frame and interest rate.
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