Examlex
Explain the different networking elements creating a connected world.
FOB Shipping Point
A term used in shipping contracts indicating that the buyer is responsible for the goods and the shipping cost from the moment they leave the seller's premises.
Physical Inventory
The process of counting by hand the actual inventory available in a business at a specific time, typically done periodically.
Cost of Inventory
The total expense to purchase and manage inventory stocks, including purchase costs, shipping, handling, and storage.
Perpetual Inventory System
An accounting system that continuously updates inventory records and cost of goods sold after each purchase or sale.
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