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FIFO
First-In, First-Out method of inventory valuation where older stock is sold first.
Ending Inventory
The total value of goods available for sale at the end of an accounting period, not yet sold.
Inventory Valuation
The process of determining the value of a company's inventory, taking into account costs of acquiring, producing, and storing the inventory.
Income Taxes
Taxes levied by the government on the income generated by businesses and individuals, which vary by income levels and jurisdictions.
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