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The insertion sort algorithm sorts the list by moving each element to its proper place.
Estimated Inventory
An approximate calculation of a company's inventory, used when an exact count is not feasible and typically utilized in a periodic inventory system.
Gross Profit Method
An inventory estimation technique that calculates cost of goods sold and ending inventory based on gross profit margin.
Estimated Ending Inventory
A projection of the value of inventory on hand at the end of an accounting period, often calculated using inventory methods such as FIFO or LIFO.
Gross Profit Rate
The ratio of gross profit (sales minus cost of goods sold) to sales revenue, expressed as a percentage.
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