Examlex
The word anus is derived from the Latin meaning
LIFO Method
An inventory valuation method that assumes the last items placed into inventory are the first ones sold during an accounting period.
FIFO
First-In, First-Out, an inventory method where the oldest items in stock are sold first.
LIFO
Last-In, First-Out, an inventory valuation method where the most recently produced or purchased items are sold first, used for cost of goods sold calculation.
Pretax Income
The amount of income earned by a business before taxes have been deducted.
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