Examlex
Briefly list and explain the three communication contexts discussed in the text.
Ending Inventory
Ending inventory is the total value of goods available for sale at the end of an accounting period.
Net Markups
This term refers to the difference between the cost of a product and its selling price, minus any discounts or allowances.
Net Markdowns
The reduction in the selling price of goods, subtracted from the original or previous selling price, often to clear surplus inventory.
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