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What is the abbreviation for three times per day?
Weighted-Average Method
An inventory costing method that calculates the cost of ending inventory and the cost of goods sold based on the weighted average cost of all items available for sale.
Direct Labor Cost
The total expense that a company incurs for labor directly involved in the production process.
Equivalent Units
A concept in process costing that converts partially completed units into a smaller number of fully equivalent units, facilitating cost assignment.
FIFO Method
The "First In, First Out" method of inventory valuation, where goods first added to the inventory are the first ones to be sold.
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