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Isolate and discuss the rhetorical devices that appear in the following passage:
"Although you were not selected to receive the award, I congratulate you for your achievements at
California State University, Chico."
-Excerpt from a letter written by a university president and sent to an unsuccessful contender for a campus award.
Perpetual Inventory Account
An accounting method that records inventory purchases and sales in real time, providing a continuously updated inventory balance.
FIFO
"First In, First Out", an inventory valuation method where the costs of the oldest inventory items are the first to be recognized in determining cost of goods sold.
LIFO
"Last In, First Out," an inventory valuation method where the last items added to inventory are the first ones to be used or sold.
Lower-Of-Cost
An accounting method that values inventory at the lower of its historical cost or current market value.
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