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Describe self-managed teams. What is the role of managers in such teams?
Ending Inventory
The total value of all inventory (goods available for sale) a company holds at the end of an accounting period.
Average Cost Methods
A cost-flow assumption for inventory valuation, where the cost of goods sold and ending inventory are calculated based on the average cost of all units available for sale.
Gross Profit
The difference between sales revenue and the cost of goods sold, before deducting overhead, payroll, taxation, and interest payments.
Ending Inventory
The aggregate value of products on hand for selling when an accounting cycle concludes.
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