Examlex
Write the fraction in decimal form.
FOB Shipping Point
A shipping term indicating that the buyer is responsible for the shipping costs and owns the goods in transit once they leave the seller's premises.
Cost Flow Assumption
An accounting method used to value inventory and determine the cost of goods sold, such as FIFO (First-In, First-Out) or LIFO (Last-In, First-Out).
Net Realizable Value
The estimated selling price of goods, minus the costs of their sale or completion, used in determining the value of inventory on hand.
LIFO
An inventory valuation method standing for Last-In, First-Out, where the most recently acquired items are assumed to be sold or used first.
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