Examlex
The optional keyword AS can be used to indicate that the subsequent string of characters is a column alias.
Inventory
The raw materials, work-in-process goods, and finished goods that are considered to be the portion of a business's assets that are ready or will be ready for sale.
LIFO Conformity Rule
A requirement for companies using the Last In, First Out (LIFO) method for tax reporting to also use it for financial reporting to shareholders.
Inventory Turnover
A measure of how many times a company's inventory is sold and replaced over a certain period, indicating the efficiency of inventory management.
Perpetual Inventory System
An inventory management approach where updates to inventory records are made in real-time following each transaction or event.
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