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-Sexual activity
Periodic Inventory System
An inventory accounting method where inventory levels are updated and physical counts are conducted at specific intervals.
Ending Inventory
The total value of goods available for sale at the end of an accounting period, calculated by adding purchases to the beginning inventory and subtracting the cost of goods sold.
FIFO
An inventory valuation method standing for "First-In, First-Out," where goods purchased or produced first are sold or used first.
Gross Profit
The difference between sales revenue and the cost of goods sold before administrative and other expenses are deducted.
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