Examlex
In the 1980s Japanese automakers were successful in U.S. markets because:
Perpetual FIFO
An inventory management method where goods are sold in the order they are acquired, continuously updated to reflect sales and purchases.
Cost of Goods Sold
An accounting term referring to the direct costs attributable to the production of the goods sold in a company, including material and labor costs.
Ending Inventory
Ending inventory is the total value of goods available for sale at the end of an accounting period, calculated by adding new purchases to beginning inventory and subtracting cost of goods sold.
Periodic LIFO
An inventory valuation method where the last items placed in inventory are the first ones counted as sold, calculated at the end of an accounting period.
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