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Weighted-Average
A mathematical average that takes into account the varying degrees of importance of the numbers in a data set.
Ending Inventory
The total value of all unsold goods that a company has in its possession at the end of an accounting period.
Periodic Inventory
An inventory accounting system where inventory levels and cost of goods sold are determined at the end of an accounting period.
Perpetual Inventory System
An accounting approach to continuously track inventory levels, purchases, and sales, updating the inventory records in real-time.
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