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The third assumption of the synthesis model explains that society is made up of different but interdependent parts that affect each other, creating a structure called a
LIFO
An inventory valuation method that assumes the last items added to the inventory are the first ones to be sold ("Last In, First Out").
Weighted Average
A calculation that takes into account the different degrees of importance of the numbers in a dataset, making some values count more heavily than others.
Cost Flow Assumption
Accounting methods used to determine the cost of goods sold and ending inventory, such as FIFO (First-In, First-Out) or LIFO (Last-In, First-Out).
Weighted Average
A mathematical calculation that takes into account both the numbers and their weights, resulting in a figure that reflects their combined effect.
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