Examlex
In the above figure, item #4 is called the ____.
Cost of Goods Sold
The direct costs attributable to the production of the goods sold by a company, including materials and labor.
Beginning Balances
The balances of accounts at the start of an accounting period, carried forward from the end of the previous period.
Accounts Receivable
The amount customers are yet to pay a company for goods or services that have already been delivered or performed.
Income Statement
A financial statement that reports a company's financial performance, including revenues, expenses, and profit, over a specific period.
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