Examlex
The ____ of memory, sometimes referred to as garbage collection or defragmentation, is performed by the operating system to reclaim fragmented sections of the memory space.
Ending Inventory
The total value of goods available for sale at the end of an accounting period, calculated by adding purchases to beginning inventory then subtracting goods sold.
FIFO Basis
Stands for "First In, First Out," an inventory valuation method where the costs of the earliest goods purchased or produced are the first to be recognized in determining cost of goods sold.
Perpetual Inventory System
A method where inventory quantities and cost of goods sold amounts are updated continuously as sales occur and purchases are made.
Lower-of-cost-or-market
An accounting principle that values inventory at the lower of its historical cost or current market price.
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