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Nitrogen gas can substitue for oxygen gas in cellular respiration.
Inventory Records
Documentation that tracks the quantity, purchase costs, and sale prices of products available for sale, crucial for accurate inventory management and financial reporting.
Periodic Inventory
An inventory system where the inventory level is updated at specific intervals.
Ending Inventory
Ending inventory is the total value of inventory still on hand at the end of an accounting period, calculated by adding new purchases to beginning inventory and subtracting the goods sold.
LIFO
Last In, First Out (LIFO) is an inventory valuation method which assumes that the most recently produced items are the first to be sold.
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