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An advantage of hiring from within is that it improves employee morale.
Cost Flow Method
An accounting technique used to value inventory and determine the cost of goods sold by assuming a flow of costs.
FOB Shipping Point
A shipping term indicating that the buyer takes responsibility for goods and their transportation costs as soon as the goods leave the seller's premises.
Goods In Transit
Merchandise or stock that has been shipped by the seller but has not yet been received by the purchaser.
FIFO Method
"First In, First Out," an inventory valuation method assuming goods first purchased or produced are the first to be sold.
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