Examlex
Match the following choices with the appropriate statement.
-ratio between image size and MF
Gross Profit
The difference between sales revenue and the cost of goods sold, indicating the basic profitability of a company's core business activities.
Perpetual Inventory System
An accounting method that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management.
LIFO
"Last In, First Out," an inventory valuation method where the latest goods purchased are the first to be sold.
Inventory Cost Card
A record-keeping tool that tracks the cost associated with a specific item of inventory, detailing purchases, sales, and adjustments.
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