MERCHANDISE Definition

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MERCHANDISE is commodities offered for sale or to engage in the trade of commodities that are for sale.

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REASONABLE PERSON is a phrase to denote a hypothetical person who exercises qualities of attention, knowledge, intelligence, and judgment that society requires of its members for the protection of their interest and the interest of others.

COST ROLLUP is a determination of all cost elements within total cost. A cost rollup will normally but not always allow for the dissection of cost by material by a where used chain to the individual component, labor by operation and overheads applied. See COST IMPLOSION.

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