Examlex
What type of program is designed for students who prefer to take classes on the Internet?
Weighted-Average
A calculation method that takes into account the varying degrees of importance of the numbers in a dataset.
Gross Profit Method
A method used to determine the value of the ending inventory using a predetermined gross profit rate. This method can be used to determine value of ending inventory if a loss from fire occurs.
Gross Profit
The financial metric calculated by subtracting cost of goods sold from total net sales, reflecting the efficiency of a company in managing its manufacturing costs.
LIFO
LIFO (Last In, First Out) is an inventory costing method where the most recently produced or purchased items are the first to be expensed.
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