Examlex
A PLC power supply module does not normally supply power to the field devices.
FIFO
First-In, First-Out, an inventory valuation method where goods first bought are the first to be sold, assuming that the oldest inventory items are sold before newer ones.
Costs
The amount of money expended or resources used in the production of goods or in providing services.
Average Cost Method
An inventory valuation method wherein the cost of goods sold and ending inventory is determined by taking the weighted average of all purchases.
Periodic Inventory System
An inventory accounting system where updates to the inventory accounts occur at specific intervals, such as monthly or yearly, as opposed to continuously.
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