ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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DOLLAR VALUE LIFO Definition
DOLLAR VALUE LIFO, in the U.S., is a method of expressing the value of an inventory in monetary values rather than units. Each homogeneous group of inventory items is converted into base-year prices by using the appropriate price indices. The difference between opening and closing inventories is a measure in monetary terms of the change in the financial period.
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RESIDUAL OWNERSHIP see RESIDUAL EQUITY THEORY.
BUDGETARY DEFICIT occurs when expenditures are greater than revenues.