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Weighted Average
A mathematical calculation that takes into account both the magnitude and the significance of each number in a set to find an average value weighted by importance or size.
Homogeneous Products
Goods that are considered identical by consumers, and can be substituted for one another, such as commodities.
Perpetual Methods
Inventory accounting systems where updates are made continuously to reflect the buying, selling, and production of goods.
Periodic
Occurring or repeating at regular intervals of time, often used to describe recurring financial or reporting events.
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