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If a sale involves unborn animals to be born within twelve months after contracting,identification takes place when the animals are born.
Periodic Inventory System
An inventory system where inventory levels are updated at specific intervals, typically through physical counts.
Net Method
A technique for accounting where discounts for early payment are assumed to be taken and recorded as such.
Returned Merchandise
Items that have been sold and subsequently returned by the customer to the seller due to defects, dissatisfaction, or other reasons.
Inventory Returns Estimated
An estimate of the value of goods that are anticipated to be returned by customers, used for accounting and inventory management purposes.
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