Examlex
The practice of charging different prices on the basis of varying customer preferences is known as:
Cost Of Merchandise Sold
The cost that is reported as an expense when merchandise is sold.
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.
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