Examlex
Which of the following is a lean production technique that has been successfully applied in service firms?
Cost of Merchandise Sold
The direct costs tied to producing the goods that a company sells, thus a direct reflection of the cost of inventory sold.
Gross Profit
The difference between revenue and the cost of goods sold, excluding other operating expenses and taxes.
Income from Operations
The profit earned from a company's everyday business activities, excluding income from other sources and expenses like taxes and interest.
Operating Expenses
The costs associated with the day-to-day activities of running a business, not including the cost of goods sold.
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