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Describe the functions of organizational culture.
FIFO Costing
FIFO Costing, or First-In, First-Out costing, is an inventory valuation method where goods first purchased or produced are the first ones sold.
Pretax Income
The amount of income earned by a business before taxes have been deducted, also known as earnings before taxes (EBT).
Inventory Amounts
The price of items that are up for sale at the termination of a bookkeeping period.
Audit
An examination of the financial reports to ensure that they represent what they claim and conform with generally accepted accounting principles.
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