The Methods of the Scanner Class Do Not Behave the Same

question 6

True/False

The methods of the scanner class do not behave the same when reading from a text file as they do when used to read from the keyboard.

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Definitions:

Gross Profit

The difference between revenue from sales and the cost of goods sold, before accounting for operating expenses.

Inventory Cost

The total cost associated with buying, producing, and storing inventory, including purchase prices, production costs, and related expenses.

Cost Flow Assumptions

Refers to the methods used to determine the cost of inventory sold and remaining inventory value, including FIFO, LIFO, and weighted average.

FIFO

An inventory valuation method where goods first received are the first ones sold, used in accounting to determine cost of goods sold.