Examlex
In the long run,the price of a product is determined by the cost of production and the length of the firm's supply chain.
Ending Inventory
The value of goods available for sale at the end of an accounting period, not yet sold.
Manufacturing Costs
The total expense involved in manufacturing a product, including direct materials, direct labor, and overhead costs.
Direct Materials
The raw materials directly used in the production of a product, easily traceable to the finished good.
Absorption Costing
An accounting method that includes both variable and fixed manufacturing costs in the cost of a product.
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