Examlex
Use the following figure to answer the questions:
-The structure labeled as 4 is the:
Beginning Inventory
The value of goods available for sale or use at the start of an accounting period, carried over from the preceding period.
Cost Of Goods Sold
The total cost directly involved in producing goods or services, including materials and labor.
Net Income
The amount of money left after all expenses, taxes, and costs have been subtracted from a company's total revenue.
Inflation
The rate at which the general level of prices for goods and services is rising, eroding purchasing power.
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