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If a warrantor chooses to make an express warranty,the Magnuson-Moss Warranty Act requires that the warranty be labeled as either ________ or ________.
Weighted-Average Method
A costing method that calculates the cost of goods sold and ending inventory based on the average cost of all units available for sale during a period.
Process Costing
A costing method used in production where costs are assigned to processes and then averaged over all units produced.
Job-Order Costing
An accounting method that assigns costs to specific jobs or batches, used in industries where goods or services are produced on a custom basis.
Process Costing
An accounting methodology that traces and accumulates direct costs, and allocates indirect costs, of a manufacturing process. Costs are assigned to products, usually in a large batch, which might include an entire month's production.
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