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Cost of Goods Sold
The immediate expenses linked to creating products sold by a business, covering both materials and workforce costs.
Net Method
An accounting method where discounts for prompt payment are assumed in the recorded costs; if the discount is not taken, the expense is recorded later.
Cash Discount
A deduction from the invoice price that a seller allows to a buyer in return for paying the bill early.
Invoice
A document sent to a buyer that specifies the quantities and costs of the products or services provided by the seller.
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