Examlex
What criteria must an invention meet to be patentable?
Cost of Goods Sold
The costs directly resulting from the creation of products a company sells, including expenses related to materials and labor.
Gross Profit
The financial metric that represents the difference between sales revenue and the cost of goods sold.
LIFO Inventory Method
An accounting technique where the most recently acquired items of inventory are recorded as sold first, often used to calculate cost of goods sold and ending inventory.
Merchandise Inventory
The goods and products a company holds for the purpose of selling to customers.
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