Examlex
____ is the principle that allows you to apply your knowledge of a general category to more specific objects.
Period-End Inventory
The total value of all inventory still available for sale by a company at the end of an accounting period.
Gross Profit
Gross profit is the difference between the sales revenue and the cost of goods sold, illustrating how much a company earns from selling its products before other expenses are deducted.
Cost Of Goods Available
The total cost of merchandise a company has for sale, which includes the beginning inventory plus the cost of goods purchased minus ending inventory.
Ending Inventory
The total value of all the goods that a company has in stock at the end of its accounting period.
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