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Ending Merchandise Inventory
The final value of goods available for sale at the end of an accounting period, before any new inventory has been added.
Specific Identification Method
An inventory costing method where specific costs are attached to individual units of inventory, typically used for unique or high-value items.
Low-Unit Cost Items
Products or goods that have a relatively low cost per unit, making them inexpensive to purchase in large quantities.
Inventory Valuation
The method used to calculate the cost of goods sold and the ending inventory, factoring in purchases and any changes in costs or quantities.
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