INSIDE INFORMATION Definition

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INSIDE INFORMATION is the information which the company temporarily withholds and has not been released to the public at large, and which is intended for use solely for a corporate purpose and not for any personal use.

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PERIOD COST is an expense that is not inventoriable; it is charged against sales revenues in the period in which the revenue is earned (e.g., SG&A is a period cost). Also called period expense.

AVERAGE COST METHOD is using a weighted average cost for items in inventory rather than actual cost for each specific item.

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