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Ending Inventory
Available goods for sale's value at an accounting period's termination.
Periodic Inventory System
An inventory accounting method where updates to inventory levels are made periodically, often at the end of a financial period.
Purchase Returns and Allowances
Transactions where buyers return goods or are granted reductions in the initial selling price due to defects or other issues.
Purchase Discounts
Purchase discounts are reductions in the price paid for merchandise or services due to early payment by the buyer.
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