RECEIVING Definition

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RECEIVING is to get something or come into possession of something. In a company it can be a location where goods are received.

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DISCOUNT is a decrease in value (often due to interest to be earned) or decrease in price.

INVENTORY VALUATION is the process of assigning a financial value to on-hand inventory, based on standard cost, first-in, first-out (FIFO), last-in, first-out (LIFO), average list price or other method. The method used is determined by a requirement to meet legal or other standards specified by a third party, or by an operational measure found to be useful in analyzing inventory positions.

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