Examlex
A PivotTable must be placed on the same worksheet as the data used to create it.
Understatement
The act of presenting financial figures that are lower than the actual numbers, either intentionally or unintentionally.
LIFO Reserve
The difference in inventory valuation between the Last In, First Out (LIFO) method and another inventory accounting method, such as FIFO (First In, First Out).
FIFO Amounts
The value of inventory computed under the First-In, First-Out method, assuming the items purchased or manufactured first are sold first.
Pretax Income
Pretax income is a company's earnings before tax, calculated as revenue minus expenses, excluding tax expenses, serving as an indicator of financial performance.
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