Examlex
A T-unit analysis
Cost of Goods Sold
An accounting term referring to the direct costs attributable to the production of the goods sold in a company, including material and labor costs.
Ending Inventory
Ending inventory is the total value of goods available for sale at the end of an accounting period, calculated by adding new purchases to beginning inventory and subtracting cost of goods sold.
Periodic LIFO
An inventory valuation method where the last items placed in inventory are the first ones counted as sold, calculated at the end of an accounting period.
Cost of Goods Sold
Represents the direct costs attributable to the production of the goods sold by a company.
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