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This fog results from adiabatic cooling.
Perpetual Inventory System
An inventory system in which a detailed inventory record is maintained, recording each purchase and sale during the accounting period.
Periodic Inventory System
A periodic inventory system is an accounting method where inventory levels and cost of goods sold are determined at specific periods, such as monthly or annually, through a physical count.
Cost of Goods Sold
Cost of Goods Sold (COGS) represents the direct costs attributable to the production of goods sold by a company, including material and labor costs.
Stockholders' Equity
The residual interest in the assets of a corporation that remains after deducting its liabilities, representing ownership equity.
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