Examlex
Purchasing supplies on account increases the balance of the Accounts Receivable account.
Physical Movement
The actual movement or transportation of goods in a supply chain.
Average Cost Flow
An inventory costing method that assigns the average cost of goods available for sale to both ending inventory and cost of goods sold.
Ending Inventory
The value of goods available for sale at the end of an accounting period, calculated by adding purchases to the beginning inventory and subtracting goods sold.
LIFO
Last In, First Out; an inventory valuation method where the most recently produced items are recorded as sold first.
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