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Inventory Account
A balance sheet account containing the cost of goods a company holds for sale in the ordinary course of business.
Goods in Transit
Merchandise or products that have been shipped by a seller but not yet received by the purchaser, present in the distribution channel.
Inventory Inclusion
The process of adding items to a company's inventory count, ensuring they are recorded as assets in the financial statements.
Weighted Average
A calculation that takes into account the varying degrees of importance of the numbers in a data set.
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