COST OF SALES Definition

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COST OF SALES see COST OF GOODS SOLD.

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MAJORITY INTEREST is an ownership interest greater than fifty percent (50%) of the voting interest in a business enterprise.

VISUAL-FIT METHOD is a cost estimation method where an analyst examines a cost by plotting points on a graph (called a scatter diagram) and places a line through the points to yield a cost function. This method is more objective than the account-classification method, but it is still lacking because two cost analysts could (and likely would) visually fit different lines. Such an approach is useful, though, because it helps spot non-representative data points, or outliers.

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