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Bacteria can thrive in an environment that has a low pH,such as lemon juice.
Periodic Inventory System
An inventory accounting system where updates to inventory levels are made periodically, usually at the end of a financial reporting period, as opposed to continuously.
Cost of Goods Sold
The direct costs attributable to the production of the goods sold by a company, including material, labor, and overhead expenses.
Beginning Inventory
The worth of merchandise on hand ready to be sold at the beginning of a financial period.
Merchandise Purchases
Transactions involving the buying of goods for resale purposes, typically in a retail or wholesale setting, which will either be sold as is or used in the production process.
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