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Exhibit 2-3
Michael's Compute-All,a national computer retailer,has kept a record of the number of laptop computers they have sold for a period of 80 days.Their sales records are shown below:
-Refer to Exhibit 2-3.The class width of the above distribution is
LIFO Method
An inventory valuation method called "Last In, First Out" where the most recently produced items are recorded as sold first.
Ending Inventory
The aggregate worth of merchandise available for purchase at the closing of an accounting cycle.
Brown Bears
Large omnivorous mammals found across parts of northern Eurasia and North America, known for their thick fur and powerful build.
Markup
The amount added to the cost price of goods to cover overhead and profit; calculated as a percentage of the cost.
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