Examlex
The retail inventory method estimates the cost of ending inventory by applying the gross profit ratio to net sales.
Non-conforming
Refers to a property or product that does not meet local zoning or building standards.
Shipment Contract
A contract under which a seller turns goods over to a carrier for delivery to a buyer. Both the title and risk of loss pass to the buyer when the goods are given to the carrier.
Proper Tender
A legal and financial term referring to the act of offering to deliver what is due under a contract, specifically in a manner that fulfills all conditions attached to the payment or delivery.
Loading Dock
An area of a building where goods are loaded onto and unloaded from vehicles or ships.
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