Examlex
Identify six functions performed by a hub.
Inventory Costing Methods
Inventory costing methods are accounting principles used to value inventory, including first-in, first-out (FIFO); last-in, first-out (LIFO); and weighted average cost.
Net Income
A company's remaining earnings after deducting all expenses and taxes from its revenue.
FIFO Method
An inventory valuation method that assumes the first items placed in inventory are the first sold.
Balance Sheet
The balance sheet is a financial statement that shows a company’s financial position by detailing its assets, liabilities, and shareholders' equity at a specific point in time.
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