Examlex
Because of unknown mechanisms,the secretion of saliva generally increases when there is a decrease in the total volume of body water.
Inventory Costing Method
A system used to value inventory, such as First-In, First-Out (FIFO) or Last-In, First-Out (LIFO), impacting the calculation of cost of goods sold and ending inventory.
LIFO
Last In, First Out; an inventory valuation method where the last items placed in inventory are the first ones to be used or sold.
Ending Inventory
The total value of a business’s merchandise, raw materials, and products not yet sold at the end of an accounting period.
FIFO
"First In, First Out," an inventory valuation method where goods first acquired are the first to be sold, used in accounting to calculate the cost of goods sold.
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