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Average Cost Method
An inventory costing method that assigns the average cost of all similar items in inventory to the cost of goods sold and to ending inventory.
Cost Of Goods Sold
Represents the direct costs attributable to the production of the goods sold in a company, including materials and labor.
Ending Inventory
The total value of goods available for sale at the end of an accounting period.
Quantity Discount
A reduction in price given by a seller to a buyer for purchasing a larger quantity.
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