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MATCHING KEY TERMS AND DEFINITIONS
-Continuous motion disorders caused by repetitive stress injuries.
Cost of Goods Sold
This refers to the aggregate expense involved in creating a product that a company sells, including direct labor, material costs, and direct factory overhead.
Ending Inventory
The total value of unsold goods that a company has in stock at the end of an accounting period.
LIFO Method
The Last-In, First-Out (LIFO) Method is an inventory valuation approach where the last items added to inventory are assumed to be the first sold, affecting the cost of goods sold and inventory valuation on financial statements.
Effective Tax Rate
The average percentage of income that a business or individual pays in taxes, calculated by dividing total tax expense by taxable income.
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