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You are in charge of creating and updating your company's Wikipedia page.You logon to find that someone has placed inappropriate photos and blatant lies about your products on the corporate Wikipedia page.Your company has been a victim of wiki _________,another major challenge of the Business 2.0 environment.
Ending Inventory
Ending inventory is the value of goods still available for sale by a company at the end of an accounting period, calculated as the sum of the beginning inventory plus purchases minus cost of goods sold.
LIFO
"Last In, First Out," an inventory costing method where the most recently produced or acquired items are sold or used first, potentially reducing taxes during inflation.
FIFO
An inventory valuation method that assumes that the first items placed in inventory are the first sold, thus costs of the oldest inventory are used in the cost of goods sold calculation.
Controls
Mechanisms or policies implemented to regulate processes and ensure the accuracy, reliability, and integrity of financial and operational information.
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