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Liquid water is forced out of the leaf when leaf pores are closed at night in a process called
Ending inventory
The aggregate worth of products ready for sale at the close of an accounting period, determined by summing up acquisitions to the initial inventory and deducting the cost of goods sold.
Cost flow assumption
An accounting method that determines how costs are allocated to inventory and cost of goods sold, such as FIFO, LIFO, or weighted average.
Gross profit
The difference between sales revenue and the cost of goods sold before accounting for operating expenses, interest, taxes, etc.
Ending merchandise inventory
The worth of products on hand for purchase at the conclusion of a financial period.
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