Following is a list of advantages and disadvantages of the corporate form of business.Identify each characteristic as either an advantage (A)or a disadvantage (D).
Definitions:
Inventory
The total amount of goods or materials a company has in stock for sale or production.
LIFO Method
Last In, First Out method; an inventory valuation method where the last items added to inventory are assumed to be sold first.
Cost Of Goods Sold
The straightforward costs associated with producing goods for sale by a company, covering labor and materials.
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