generate on particular products from particular vendors at particular prices. Management agrees that the FIFO stock valuation method allows them to approximate the cost of goods sold more accurately than other methods, and encourages the storage of stock based on when it was received. While the warehousing of stock is in keeping with management's FIFO philosophy, it also has the additional benefit of ensuring that products do not age prematurely while in storage, a particular problem with some rubber products (such as gaskets) used in the business.
In an inflationary environment, prices are generally rising. These prices can be the price of goods that are used in the manufacture of parts, or in the purchase of parts themselves. As suppliers increase prices, GST also finds itself in the position of having to increase prices. The level of inflation within a particular economic environment is of particular concern to many different parties since an env
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