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Physical Count
A manual inventory verification process where actual items are counted to ensure accuracy of records.
Inventory System
A method for tracking the quantity, value, and location of a company's inventory, both current and sold.
FOB Destination
A shipping term indicating that the seller is responsible for the goods and transportation costs until the buyer receives the goods.
FOB Shipping Point
A shipping term indicating that the buyer assumes the risk and transportation costs for goods once they have left the seller's premises.
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